Since this tower has the ability to be used in that fashion, traditional financing will not work in most cases, therefore it does need to be a cash purchase. ![]() Having recently put together a proposal for a client of mine, it's pretty safe to say one could easily earn a 10+% return on your moneyby renting it on a daily basis (either self-managed thru Airbnb or, or I could manage it for you), or slightly less if you leave it in their rental program, at a 50/50 split (then they send you your cut). For a studio, that works out to be an incentive of around $12.5k, and a 1 br, around $25k! Studios are currently running from the low $200k's, and 1 brs from the mid $300k's. Well, it could be, for you! Of the total 600 units in the building, there are only 5 one bedroom units, and 23 studios left (as of this article)! As this acquisition comes together, the units are getting snapped up! They've been selling 16 units/month over the last couple, and the pace has accelerated as the news hits! The builder is currently offering an incentive of 15 months worth of HOA payments and a refresh of the unit (valued at $5k for studio and $10k for 1 br), which will soon disappear. So in yesterday's headlines, Stations Casinos is buying The Palms.
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