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hotel coops - can you justify maint?

Started by e76
over 16 years ago
Posts: 226
Member since: May 2009
Discussion about
i was looking at a few different hotel coops - the pierre, the carlyle, the mark... while i prefer the carlyle, the maintenance seems too high to make fiscal sense (i'd rather be building equity in a larger unit in a nearby building). anyone want to weigh in? (p.s. looking in the 2-3.5M range)
Response by 30yrs_RE_20_in_REO
over 16 years ago
Posts: 9877
Member since: Mar 2009

they usually have high volatility with market conditions. If the market really craps out, you can often pick them up for ungodly low numbers. As such, if you can deal with the maintenance when they are at the low end, and are willing to dump them when the market peaks even if you weren't particularly looking to sell at that point in time, and if you actually like the units and will use it personally in the meanwhile, the return on an all cash purchase can be vastly greater than the market average.

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