Las Palomas Question

L

lifesabeach

Guest
Update: I was interested in two condos for sale in phase I and contacted the owners to rent their units and both told me they could not rent at all with the restrictions of the resort. One told me it was difficult to even allow guests to stay for free because it made them look suspicious. He confirmed that the HOA was considering charging a daily fee for all guests to discourage renting.

Sounds like too much trouble and have decided not to purchase at at this time. Is it the same experience at the Sonoran for owners that do not rent their condos?
 
DeniseAck

DeniseAck

Guest
Hi all--really total newbie to the forums here. My husband and I are coming down on April 29th for the first time. I may be nuts, but we'd like to live there for most of the year, sight unseen. Life is just too hectic and there's no way to afford to retire to the beach in the US. Our kids are still in school, so we're talking about moving in 5-6 years. The prices are SO low that it seems like the time to buy is within the next year. Of course, every realtor will say that prices are rising, we would need to buy NOW. The idea would be to rent out the property when we're not using it until we're there full time(ish).

However, with so many condos available for rent and/or purchase, I think there's an awful lot more supply than demand. To put faith in making money while the property's empty takes a huge leap. And honestly, it seems like the condo fees aren't cheap. I've seen everything from $100 to $500 a month. With $300 being the average, it would be better just to rent someone's condo for $700-1000 a month it seems. Hmph! Difficult decisions!

Any more thoughts, pro or con?
 
M

marybna

Guest
I have owned a 4 different places on Sandy Beach and one at Las Conchos. Rent before you commit. There are a lot of dirty little secrets you only learn by living there. One place I owned have elevators problems and I was on the 5th floor. One place was overrun with vacationing families and the noise on weekends and holidays was awful. At one condo I had a one bedroom and the owner above Let his family use it. One morniing I asked one of the kids how many people were in the unit that weekend. He said 10. The HOA could do nothing cause he was the owner. so occupancy rules did not apply to him,
 
ben21

ben21

Guest
Bump...

Looks like it's been almost a year since LP HOA situation has been discussed. Have things improved? It's looking like my dream of owning a place in PP might finally be happening as I've rounded up a few other families to partner on a purchase. Thing is, they love Las Palomas. I'm indifferent to location, but I think they like the resort feel and the security that comes with it.

My big concern of course is the HOA. I'd love to here from anyone that actually owns there as to how things are going. Thanks in advance!
 
R

ron

Guest
Ben,
You left me hanging on this thread. :notme: What happened? Did you purchase home or condo? If so, where? As a newcomer, I was considering the same questions you were asking.
 
M

mis2810

Guest
ron said:
Ben,
You left me hanging on this thread. :notme: What happened? Did you purchase home or condo? If so, where? As a newcomer, I was considering the same questions you were asking.
Click to expand...
Try sending him a private message through this board. He probably has an alert set so that he gets an email when he recieves a message from here.
 
ben21

ben21

Guest
Sorry I've been out of the country for the last few weeks...

Unfortunately I still don't have a place in RP, but I did get some information about LP, although I still haven't heard from a lot of owners. They have a new property management company that is very well respected and based in AZ. From what I've heard, people are much happier with this new company. I don't believe they would have taken over this project if LP was still having serious financial issues. I have also visited the resort over the last few months and have found that it has been kept up pretty well. We actually tried to rent there in June and it was completely sold out, so that's a good sign if you're looking for an investment.

Hope this helps...
 
M

marybna

Guest
I have owned condos at RP for over 13 yrs. Right now there are no 1 bedrooms for sale at Bella Sirena. I owned a 1 bedroom at Spa and have only good things to say about that place. I sold my unit a few years ago. All of the Sonoran condo appear to be well managed also. A couple of months ago I almost bought a 2 bedroom at Princessa but was too late. I like that property because it is not high density. I know someone that bought at Golf Villa and got a great buy but they still have a large unfinished building. I do not know anything about the condo between Sea and Bella but there is someone in this group that owns there. I have been happy at Bella since the start. For awhile I owned a couple in one of the high density place. It was not for me. Pools overcrowded with people eating and drinking in the pool and very noisy. When you have that many people checking in on a weekend, there will be no palopas, or pool chairs by the time I get down there.
 
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