That was my first thought as well. I've only had a little time to look into it more so far and the concept at least seems legit. Of course you would need to be careful about what company your buying into. I wonder how it works with international laws. If I bought a room in Dominican republic and then had an issue wouldn't I go to US courts or Dominican? It seems pretty wild to me.
Would it be financed by a normal mortgage? I would guess it requires a business loan or something. Haha, I can't afford to own where I live, this seems a more affordable route to get into real estate. I read that often these deals include a buyback option for the hotel, do you know if people often sell to others when they want out or do hotels typically try to rebuy all the rooms? I always assumed the hotel owned everything. I need to do more research on risks and the like but I'm pretty interested in this idea.
One_Honest_Dude OP t1_iydw6e3 wrote
Reply to comment by lucky_ducker in Own a hotel room? I hadn't heard of that before. by One_Honest_Dude
That was my first thought as well. I've only had a little time to look into it more so far and the concept at least seems legit. Of course you would need to be careful about what company your buying into. I wonder how it works with international laws. If I bought a room in Dominican republic and then had an issue wouldn't I go to US courts or Dominican? It seems pretty wild to me.