[ChinkChink]

Let us know how you unit performs.3-4%? 4%if you real lucky.

[aardogfsu]

airbnb or put it in the rental group?

[LJTVegas]

In terms of income, and based of just one month's complete data, then (excluding upgrade costs to get it into the rental program), 4% seems at the low end, especially if September is considered a relatively slow month. I plan to have in the program for ten months, and use it for two. So cost savings of my regular Vegas trips mean I effectively get around 7% from it. I think if it would stay in the rental program for twelve months, then it might get to 6%. I did get it at what seems a relatively low price though, less than $150k.

Uncertainties remain about Station's ownership, and what a Trump economy looks like!!

[ChinkChink]

Lets pray the RESORTS World never get built........................lol. Lets pray the convention center gets built FAST.

I wonder if Trump will encourage people to party in VEGAS!



Station ownership i think, is a good thing. They will get away from the Gangsta theme....................lol.

[ChinkChink]

Originally Posted by LJTVegas

In terms of income, and based of just one month's complete data, then (excluding upgrade costs to get it into the rental program), 4% seems at the low end, especially if September is considered a relatively slow month. I plan to have in the program for ten months, and use it for two. So cost savings of my regular Vegas trips mean I effectively get around 7% from it. I think if it would stay in the rental program for twelve months, then it might get to 6%. I did get it at what seems a relatively low price though, less than $150k.

Uncertainties remain about Station's ownership, and what a Trump economy looks like!!

No offense but i REALLY REALLY doubt your numbers. For ex, you are making a classice mistake NOT including REAL ACTUAL COSTS in determining rates of return. That refurbishing you did was a real cost it needs to be included in your basis.

I enjoy my hotel condo immensely but im not deceiving myself its a good cash flowing property.


Appreciation would be appreciated but im not counting on it.

[LJTVegas]

Originally Posted by ChinkChink

No offense but i REALLY REALLY doubt your numbers. For ex, you are making a classice mistake NOT including REAL ACTUAL COSTS in determining rates of return. That refurbishing you did was a real cost it needs to be included in your basis.

I enjoy my hotel condo immensely but im not deceiving myself its a good cash flowing property.


Appreciation would be appreciated but im not counting on it.

I don't expect to be spending all those costs each year!! I don't expect to replace a carpet each year for example!! You are partially correct in that there are depreciation costs each year, so the costs I have spent should be spread over a period of time and averaged out? I am under no illusion that there will be higher than usual depreciation and maintenance costs when compared with privately rented accommodation.

To make me 7% pa on my investment, it needs to deliver $5500 net pa, given I used to spend $5k pa on renting accommodation in Vegas. That is an average of $550 per month over the 10 months I am not there. It beat that by over 20% in September after HOA fees, so accounting for taxes, insurance, depreciation etc it is on track, and September isn't the busiest of months. So early days, but I am struggling to understand where else one can make a similar ROI in this economy without much greater risk?

[ChinkChink]

To get rate of return of 7% on $200k you need to get $14,000 a year. good luck!

[LJTVegas]

Originally Posted by ChinkChink

To get rate of return of 7% on $200k you need to get $14,000 a year. good luck!

I completely agree. But where does $200k come into it? I didn't spend $200k on my property. And part of my return comes from cost savings. As I said above I need $5500 per year from the property to achieve 7%. That seems very achievable.

[ChinkChink]

i thought you bought a 1 bedroom unit. my apologies.

[LJTVegas]

Originally Posted by ChinkChink

i thought you bought a 1 bedroom unit. my apologies.

No worries. October statement just in, 2nd full month in the rental program. 96.77% occupancy (30/31 nights), slightly lower average room rate, 40% increase on my September income. I guess October is a premium month, with halloween, 5 weekends in the month and perfect temperatures??