Sunset Palm Hotel Condominium

If you want to rent the unit by yourself, you can do so. However,only long term leases. We can not have 150 real estate agents running through the property renting…Continue readingI am asking if the fee is weather I rent it or you guys do.

Presently the hotel – especially with the Covid 19 – is not running at it normal or average/past history performance.This is the reason why you see special rates on the…Continue readingThe average price you have for nightly fees are higher than what I am seeing online. Do the units have to go through your marketing or leasing group?

The $ 250 per month does not include the linen service or housekeeping.If an owner living there is interested in such services it will be available and provided by the…Continue readingWill the housekeeping be available everyday just pay per use or additional monthly fee?

Each hotel room owner will be charged $250 per month.We have placed a very high “Reserve” into the Budget. the Budget may be reduced by the owners in the future to…Continue readingAre you expecting the condo fees to go up after conversion?

We have a sales and marketing office on site, which is open 7 days a week. You can by anytime to see the units. 

The main change is the bathroom. Here we take the bathtub out and replace it with a shower. The entire hotel rooms will have new tiles floor (carpet out) and also…Continue readingWhat upgrades are being done or is this just to get to certification of occupancy?

As hotel unit owner, you can stay there as long as you like.No one will be able to evict you from your own real estate. However, in general terms, hotel rooms…Continue readingThe documents state you are not allowed to reside there or limited to X days. Also, is it going to be continued to run as a hotel after the conversion and does any payments prior to the conversion go towards the mortgage?

The exit strategy to realize the return we expect, is the sale of the hotel condominiums.

Considering that we are buying a hotel with 152 rooms plus 3 commercial spaces for a total of $4.2 million, with 67,400 SF or $27,000 per unit, a true bargain.It would…Continue readingIn what time frame would that return be realized?

I was working as a Securities and Options Principal. You can check with FINRA , I have 0 (zero) complaints on my license. It would be illegal and a violations of…Continue reading“$60,250 return” Is that a guaranteed return?

It can be sold at any time, there are no restrictions. We have prices our units extreme marketable and believe when all the improvements on the overall property are completed, the…Continue readingCan it be re-sold at any time or are there restrictions on selling?

The income to owner would come from their specific unit and not as a hotel rental income pool. 

The Hotel Condominium is exactly the same as any other Condominium vacation rental. Each unit is individually owned.The Hotel management company will rent out the units for owner who are…Continue readingWould I be buying one unit to individually own and manage, similar to a condo vacation rental, or I would buy it and then the general hotel management team would manage and rent it?

The structure of the SUNSET PALM HOTEL LP is that 50% of the equity/profits, will be held by the Limited Partners and 50% by the General Partner (WB)The 50% equity…Continue readingCan you give me more information on how this limited partnership works?

Yes. As with any Real Estate you own, there will be real estate taxes to be paid for the hotel condo.However, for tax purposes, on the other hand you will…Continue readingWould I have any property taxes on the unit?

Our hotel condominium has nothing to do with a time share.This are private owned individual condominiums. 

Each unit owner will pay $ 250 per month for Condo Association fees.We have put a very high amount of “Reserve” into the budget. At a later point , if the…Continue readingAre there any other fees, like monthly association dues?

Absolutely. When the hotel condominium conversion is approved by Tallahassee, and the document is recorded in the court house,each hotel room becomes a legal condominium.The buyer of the condo will…Continue readingCan I manage my unit rather than have it managed by general management?

We should determine today, which unit you will choose. The reason is that we are selling very fast and there may not be any units remaining in the future. In such case…Continue readingIs ownership of the unit deeded?

if you are interested to “swap” your Limited Partnership unit for an hotel room, rather than getting paid back your$ 25,000 investment, the answer is yes.