Category: Questions & Answers

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.