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Old 09-15-2011, 12:20 AM
 
1 posts, read 1,058 times
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Hi all. I have asked this question of 3 realtors now and none can give me an answer. I am interested in buying a hotel room condo in one of the major casinos. (Palms, Trump, MGM, etc.) The casinos will rent these places out when you are not there and they are full. I can get the numbers of the % they take, the monthly "condo" fees etc. but I can not find out the average return from the rental programs. ie: if someone has an average room on a specified floor of the Palms or any other palce, how much rental income did they receive over the last year from the rental program? Everything is counted by these places and the #s must exist. How do I find them?
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Old 09-15-2011, 09:44 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,192,639 times
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Originally Posted by thoogylives View Post
Hi all. I have asked this question of 3 realtors now and none can give me an answer. I am interested in buying a hotel room condo in one of the major casinos. (Palms, Trump, MGM, etc.) The casinos will rent these places out when you are not there and they are full. I can get the numbers of the % they take, the monthly "condo" fees etc. but I can not find out the average return from the rental programs. ie: if someone has an average room on a specified floor of the Palms or any other palce, how much rental income did they receive over the last year from the rental program? Everything is counted by these places and the #s must exist. How do I find them?
DM swigchow who has a unit in signature...he has good numbers.

I think you will find that the rental programs will never do much more than cover your operating costs plus a little. If you start to make any real money the hotel will change the fees. The down side is you can get hit if things go badly...

You might make out on appreciation if LV ever comes back strong. I don't think there are going to be any more condo hotels here so they could easily turn into a rare item.
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