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Tuesday, October 14, 2008

Think you can close on that Las Vegas High Rise Condo? Not So Fast...

It doesn't matter how rich you are these days - securing a mortagage for a Las Vegas high rise condo is getting harder and harder, even for those with no credit issues.

For example according to a report by Duestch bank, closings at Trump are now at a horrendous 21%, while Palms Place is reporting closing at a 57% clip. And why? Lenders are now asking for 50 percent down on their high rise condo deals, and that option's only available for those with excellent credit to begin with.

With interest rates on 30-year fixed on a condo-hotel going as high as 8% and above, it's becoming increasing clear that even those with the means must start looking at alternative investments for now as the credit markets continue to struggle.

Many would-be high rise condo owners are now walking away from 6-figure non-refundable deposits - and if that's their best option, something's not right. Are condo fractionals the answer? At least you can make a case for them being cash flowing investments in an uncertain Las Vegas high rise condo market.

But folks, if you're going to buy a high rise condo in Las Vegas, do it all cash, and make sure you can handle the uncertainty for the next 2 years.

Tuesday, October 07, 2008

Planet Hollywood Towers Offers First Las Vegas High Rise Condo Fractional Ownership Opportunity

I knew it was going to happen. I knew it 2 years ago when I bought this website domain. I just didn't know if would take this long.

Leave it to Planet Hollywood to partner with Westgate Resorts to offer the first Las Vegas high rise condo opportunity packaged as condo fractional ownership. And folks, believe me - if you've never heard of condo fractional ownership, you most certainly will in the very near future as it's the ONLY way high rise condo purchasers can buy units with the intent on cash flowing.


A high rise condo in Las Vegas positioned as a high yielding, cash flowing investment? Who would have thought? - Yet condo fractional ownership makes that extremely possible.

In fact, in today's market, I'd be shocked if the other projects in town didn't adopt a similar model. I've been saying for quite some time now that condo fractionals are the answer to the overpriced high rises you see on the strip and elsewhere. With the economy as it currently is (and your options for putting your money in profitable vehicles being at a minimum), condo fractional ownership is an idea whose time has come.

When most people think of fractional ownership, they generally think about how airplanes are purchased and used by the ultra-wealthy and the business executives of the world. Now you can take that concept to build your own wealth on the Strip with Planet Hollywood Towers leading the charge.

I have only one question: What took so long for this idea to enter the Las Vegas high rise condo marketplace? Perhaps there's a negative connotation with that ugly "timeshare" word. Well, rest easy, because let me stress that condo fractionals have nothing to do with timeshare sales, with the biggest diference being with fractional ownership, you're purchasing deeded real estate, and not a certificate you can hang next to your Who's Who nomination award from 1984.

So if you've been wondering why I haven't posted more often to my blogs, it's because I've been spending every waking moment scrutinizing this product and learning as much as I can so I can feel confident recommending condo fractional ownership to my clients. Which after countless hours of research, I believe I can in resounding fashion.

I also believe the Planet Hollywood Tower condo fractional ownership program in particular is a huge winner as well. This project gives you a chance to own a piece of the Strip without having to break the bank with premier resort luxury at prices the average family can afford - meticulously furnished and amenity filled 1,2, or 4 bedroom condo units are available in weekly increments at preconstruction prices. Again, this is deeded real estate to a piece of prime property in the heart of all that's Las Vegas. The exact same rights of regular home ownership apply in that you can use it, rent it, sell it, will it, and (as a bonus of Westgate affiliation) even exchange your condo to over 2,000 resorts in 81 countries!

Ownership opportunities are available from $24,900 and delivery is expected in late 2009. (View the construction webcam). I see no downside to this, so please contact me if you're interested, and I'll show you how to get up to a 10% discount that no one else will tell you about. (I told you I did a lot of research on this!).

Your "Hollywood" playground awaits your arrival. Definitely get in touch with me for a personalized tour and I'll show you exactly why I'm in love with this fractional ownership concept! You can also get more information by filling out the form on the top-left side of this website as well.