Condo with hotel room layout

[Chris Capone]

Hi everyone,

I’m new to investing in property. I feel like it’s time I invest my money into properties where I can rent out to people for vacations. I’ve been looking for beach homes, however they’re just too expensive for me right now and I couldn’t find any good deals (at least for a beginner).

I recently discovered a really nice condo complex right next to a snowboarding/skiing mountain (5 minute walk). This condo has all the amenities from pool/hot tub, gym and a couple restaurants. Price is around $45,000-$55,000 depending on the style, and they even have a rental program where they’ll search for renters and they keep half the price, which might be good for me since I’m an hour and a half away and would save me a lot of time.

Basically, everything here attracted me to really wanting to pursue this property, however the only thing I’m nervous about is that these condos are hotel styled rooms. Just under 300 sq feet, I’d be renting out a two queen bed hotel room with a small kitchen and nice bathroom.

Does anyone have any experience renting out this type of a property whether it be a snowboarding/ski resort or a beach property? I think I’m just nervous about people being turned away from a smaller room when they can get a townhouse for a little more cash.

P.S. hoa and taxes are extremely cheap for the market I’m in.

[Demetria Kalfas-Gordon]

Hi!  I manage several of these properties for my investors in Las Vegas and do really well with them.  Best advise I can provide for you is do some research on AirBnB and other similar sites for your area and look to see how many of them are listed and what their calendars look like - if they are full at least 50% of the time, then you have a winner.  Good luck.  Demi