For those who own condos
- Thread starter tyler
- Start date
playaperro
El Pirata
http://homes.point2.com/MX/Sonora/Puerto-Penasco-Rocky-Point/Sandy-Beach/Las-Palomas/15198572-Real-Estate.aspx
Not very good if you can rent one for $500 USD for a month..
Not very good if you can rent one for $500 USD for a month..
Give me my trailer park back!!!!!!!!!!!!!!!:cry::cry:
dry heat
Pigeon coup coordinator
I think the $500 listing is bogus (all rentals have to go through the resorts management company, fees alone for a "guest of owner" would be over $500 for the month- thus the owner would be renting for free.)
I own at Las Palomas- rentals are better this year than in 2009, numbers are close to 2008 figures.
I own at Las Palomas- rentals are better this year than in 2009, numbers are close to 2008 figures.
S
Submarine
Guest
And how are the Dubai condos doing?
dry heat
Pigeon coup coordinator
my one dubai condo is at 80% occupancy, last year it was around 90%. sold the other at peak. should have got rid of both, but it still generates a nice cash flow so I can't complain too much. Still have a soft spot for my penasco condo, even though it is my slowest growing investment. Too many fun times spent on the same beach that the condo now sits on before the condos', back when I would stay in the trailers.
Dubai condo?
InkaRoads
cronopiador
After all Dry heat did love those trailers too!!! :eek3:
S
Submarine
Guest
I think a big problem is the homeowners association dues. They were high in 09 and they've gone up in 10. Here's where they were.
http://www.laspalmasowners.itseasysite.com/f/Comparison__HOA_Fee_Structure_Calculator_Effective_January_1,2009(1).pdf
http://www.laspalmasowners.itseasysite.com/f/Comparison__HOA_Fee_Structure_Calculator_Effective_January_1,2009(1).pdf
Holy Moly!
Those are the MONTHLY HOA fees on a condo?? I had no idea! Good Lord, that's outrageous! Somebody please tell me those figures are in pesos and not dollars!! If not, how in the hell does anybody manage to afford that on top of the mortgage payment, especially if they're not getting much (if any) rental income?
I'm quitting my job and going into the HOA business!!
Those are the MONTHLY HOA fees on a condo?? I had no idea! Good Lord, that's outrageous! Somebody please tell me those figures are in pesos and not dollars!! If not, how in the hell does anybody manage to afford that on top of the mortgage payment, especially if they're not getting much (if any) rental income?
I'm quitting my job and going into the HOA business!!
Those are the MONTHLY HOA fees on a condo?? I had no idea! Good Lord, that's outrageous! Somebody please tell me those figures are in pesos and not dollars!! If not, how in the hell does anybody manage to afford that on top of the mortgage payment, especially if they're not getting much (if any) rental income?
I'm quitting my job and going into the HOA business!!
YES! Those are the monthly fees on the condos in American dollars. The HOA's are having fits because so many people are behind or just not paying. The hardest hit are the ones who still have units for sale. They have to maintain the grounds, pools, etc., so they can sell them. If all the units aren't sold, they have to charge more for the condos that are occupied.
Can you imagine paying $600 a month just for HOA and then your mortgage on top of that????
I prefer to be able to walk 30 feet and be on the beach and see it outside my window.
rockyptjoe
Guest
And lots of luck on "taking over" an HOA that is being run poorly....the info I have is that at least one of the HOA's is controlled by a Mexican corporation (that built the condo????)....they own enough of the property to have voting control....so you have the HOA controlling that you have to rent through the resort, and not privately, etc., and other interesting things....
InkaRoads
cronopiador
Then a trailer/5th wheel parked in any of the RV Parks front beach spaces will give that view and walk less than 30 feet for a lot less, about 1 month rent for the same HOA fees, and also the opportuity to vary that look whenever you want by just hooking it up and go!! :eek3:
Last edited: