Register at CommercialREOS.com

Our national commercial foreclosure website at www.CommercialREOS.com is your source for commercial reo deals and contacts. Please register today and join our commercial REO network.

Monday, December 24, 2007

Trump High Rise Condo Hotel Rental Split is 50-50%, So Where's the 3rd Fifty Percent?

Donald Trump's amazing Trump Las Vegas high rise Tower is just about finished and will soon be ready for move-ins. That's the good news. The bad news is, unless you're a really high net worth individual and bought your unit without positive cash flow intentions, you're not going to be very happy about your high rise condo hotel purchase. You see, the rental program at Trump is apparently offering a 50-50 split to unit owners, and that's after 10% is taken off the top!

You have to do the math on this one - or rather, don't do the math. It's way too scary, because one must wonder about the proverbial "3rd 50 percent". If you bought into Trump already as an ego-driven purchase, as in "I have the money and I want to indulge myself", then congratulations - you bought into one of (if not the best) luxury projects in town and you'll be very happy.

However, if positive cash flow was your goal, visit this website instead or hope the entire nationwide real estate market bounces back really quickly. And I'm not going to say I told you so. But rather I'd like to provide you with a resource instead. Instead of joining the growing number of disillusioned small time investors who got in way over their head with the idea of flipping a Las Vegas high rise condo unit such as Trump, (many are actually willing to forfeit their entire 20% deposits rather than closing), contact us immediately, as I think we have a strategy that will get you off the hook with minimal damage.

You need only turn to the resale market for units at The Signature at MGM to see what the effect of a non-positive cash flow investment can do for unit value. If you can close, hold your unit for 3-5 years, and then maybe think about selling it, I have a feeling you're going to do quite well with your Trump unit. If you can't, then we need to hear from you... (name and phone number please)

2 comments:

Unknown said...

What are your thoughts on the Planet Hollywood 52 story condos that are expected to be finished by 2010. I heard the first 30 floors are time shares and the remaining are for sale.

Mr. High Rise said...

Dan,

I'm not too familiar with that project yet. While not a fan of the timeshare, I'll definitely find out more and post an article when I get the info. Thanks for reading!

- Ron