OMG! im glad you mentioned "World Series Of Poker" ... i think its one of the most underrated events that happens in Vegas, people fly in from all over the world to take part in this huge tournament, and it continues growing every year, most of the players are millionaires
Living the condominium life in The Marina District, San Francisco; a block from the Date way, um, Safeway, can see the Golden Gate Bridge, Bay and Alcatraz every day.
Very informative, thank you. I would love to see a video with more information on units being bought as a primary home. You covered HOA fees and utilities for the owner, but would love to learn more. Can you obtain housekeeping services from MGM for a fee? What about parking? Do you get concierge services and maintenance as part of the HOA fees? What about the mailroom, and package delivery? How does cable & internet services get billed? If appliances such as the refrigerator or TV need replacing, can one buy them through MGM?
Great video, I only have one question, if you can answer it. By buying a studio/condo or room from the hotel, will the hotel likely rent the room out less? (Since it’s purchased by someone) Or will the hotel offer stay-ins like every other room that has not been purchased.
I believe they used a fair system where the units go in a rotating pool. Certain units may get requested more- strip view units, balconies, etc, but the rotation is done fairly, from my understanding. Thanks for watching!
Can you live in the unit full time and just pay the 500 a month dues my question is that because there's a condo in a hotel condo in Ocean shores Washington they want 80 grand for him but if you want to stay there you have to pay them $30 a day well if you own it why would you pay them daily and if they rented out for you do you get the money for it thinking about investing in one of these
You don't have to live in Las Vegas to own or purchase or list on Airbnb. You would need access to housekeeping and getting the property ready for each new guest
@@TheStarkTeamRealEstate thanks for your response! I read in order to get a short term rental license you have to own the place & it has to be owner occupied meaning you live there.
If you genuinely want to use as your primary residence, would conventional mortgages still be a possibility? Or would they automatically have to assume that it'll probably be used for investment purposes and you're out of luck?
It's more about the ratios of rentals in the buildings that a lender looks at. Sometimes, a local credit union will offer financing, but it's challenging to get the loan through.
@@TheStarkTeamRealEstate Hmm, okay thanks, I didn't know that. I'm from Manhattan and thinking of relocating (either to MIA or LV) and many LV condotels seem pretty reasonably priced (though I wouldn't do a cash purchase). The difficulty of financing might have something to do with depressing their values a bit.
@@tenningale for sure. The lenders pull what’s called an HOA certification and it’s a questionnaire of sorts- how many are rentals, how many are owned by one entity, etc, and when the rental Ratio is high, they won’t lend. Some credit unions may make the loan- case by case basis, Or you may be able to find an owner will carry deal. Hope that info helps!
@@TheStarkTeamRealEstate Thanks a lot, that helps. When first looking at Zillow, I saw studios in really nice buildings (e.g., 2000 Fashion Show Dr) starting at $200k. I thought to myself, wow, that's very reasonable (e.g., $40k down payment + cheap mortgage + cheap HOA compared to NYC standards). Guess I was off on the mortgage assumption, though never hurts to ask specialty lenders or even the owner for financing options.
All of the hotel condos allow full time or secondary home residential with exception of The Platinum. The rental programs in Signature MGM, Palms, Trump, Vdara are all optional.
@@TheStarkTeamRealEstate That's what I had read but never saw the info on Platinum. I am more interested in full time residential. That rules out Platinum completely. THANK YOU.
Why in the world would anybody invest in these type of units. Their are so many disadvantage????? Well, I guess for the same reason people through their money in the trash on time shares. That's just the way it has to be in order for us to be rich!!!
