Does anyone have any experience with the whole concept, I'm thinking investment wise?
I'm looking at the MGM residences in las vegas,Thanx

We have quite a few las vegas realtors on here that might be able to answer those questions, I believe his member name is "Las Vegas"

__________________
Want to save up to 50% off Real estate webmasters product websites & common upgrades? Check out my latest blog post regarding our end of the year sale.

6thanx, how do i find him/her?

the best way is to look in the member list. There's a link to the member list in top navigation bar on every page.

I have invested in 2 different projects, although, neither are in Las Vegas. I invested in Twelve hotel and condos and saw a 40% ROI after I bought in at pre-sale pricing. I love these things and cannot wait until the Novare group announces another project!

__________________
Thanks,
Grant

Read about Nashville Homes and Nashville Condos on my Nashville Real Estate Blog.

thanx Nashvegas!

Can you tell me exactly how it works? I know that if one decides to leave back there is a split in commision, what are the numbers, would one break even on a mortgage? with 30% down?

I actually bought a couple of the condo units with 20% down and rent both units to a company in Atlanta that more than pays for the monthly mortgage. At this point, not only do the units pay for themselves, but units in the building are selling for about 40-45% more than what I paid for mine 2 years ago. I am probably going to dump both units this summer at the peak of sales season and re-invest in another pre-construction project. I should be able to make $100k per unit which I will dump back into 4 or 5 pre-construction units with the same 20% down.

__________________
Thanks,
Grant

Read about Nashville Homes and Nashville Condos on my Nashville Real Estate Blog.

sounds like a great plan! what are your qualifying criterias? of course besides location.

I always look for an area where the majority of residents are young professionals. I knew the area of Atlanta (mid-town) well and knew that a product like this would work there. Honestly, I would only consider a project in the 50 largest US cities and only in cities that have seen a positive population growth (sorry Houston and Cleveland). I also look for developers who build about 5-10 buildings a year.

__________________
Thanks,
Grant

Read about Nashville Homes and Nashville Condos on my Nashville Real Estate Blog.

Sounds about right and probably what i'd be looking for. Have you considered the MGM residences in Vegas? I;'m only concerned with the fact that there are hudnreds of thousands of rooms within 1-2 miles, and except for a lower price what else would be so much more attractive about the MGM residences to be rented short term (vacation)