I looked into that too and yes the hotel /condo ass. will rent it clean it take care of it for 40% It is almost impossible to get funding for these. If you do get funding the #'s are so ugly you dont want it anyhow.Hotel vacancy rate is around 30%
I wouldnt put 75k in a deal like that I think it could make me more money elsewhere.I dont and wont do interest only loans.Now I did hard money when I started to get great discounts by paying cash so it kinda paid for itsself .But for mortgages no way.
Each of us is different .I personally have talked to others and have found those things to be bad investments. I wouldnt do them.Like I said even with 75k down you probably wont get funding foor the rest and if you do the terms would be so ugly it wouldnt be worth it.
too risky.They are only like 300 sq feet for $150k in a building that is owned by someone else and the unit probably will probably only be deeded with a zillion unreasonable restrictions.Like we can tear the building down whenever we want .