Investing in Condotel in St. Pete FL

[Skip Saldan]

We have a "condotel" on St Pete Beach in Florida. If you haven't heard of the condotel model, you'll want to look it up. Ours is at the Tradewinds resort in the Jacaranda building. We net between $45-50k per year and do zero for it. No cleaning, no calls, nothing. Our LLC bought it 5 years ago, and could be convinced to sell off a percentage. Oh, by the way, each 25% includes a free 7 night vacation at the resort (or broken up nightly) with all on site amenities included. Gulf front, 6th floor (so your views are over the tops of the palm trees) master bedroom with a king to sleep and an ensuite, two other queens, another bath and full kitchen.

You might consider this a hybrid investment with vacation benefits. This is not a time share in any way. Our LLC is on the deed and they sell like regular real estate.

Any thoughts?

Cheers