Real Estate Investing in Tremblant - Is it Worth a Look?
August 22, 2008 by David
Looking for a blissful winter wonderland vacation home in a location that most people have never heard of? Up until a few days ago, I have never heard of it either but now I’ve got the urge to go.
For those of you not familiar with Tremblant, it is located about one and a half hours northwest of Montreal, Canada. It’s a large year round resort and Mont Tremblant is best known as a ski destination, but also features a lake suitable for swimming, and a golf course in the summer months. The name of the mountain, Mont Tremblant, means “trembling mountain” in French.
For Mont Tremblant Real Estate to be an attractive place to invest, the prices need to be in an affordable range. After doing some searches online I found a nice site which lists all types of Mont Tremblant Properties. Some of them are rather high which are out of most people’s price range ($1 million +) but this site also lists Mont Tremblant Condos in the $175k + range. These are called condo/hotels which is a fairly new concept.
Condo hotels are usually large, high-rise, luxury hotels operated by big names including Fairmont, Westin, Four Seasons, Ritz-Carlton, and more. Condo hotels have condos that are sold to individual investors who may use their unit as a vacation home whenever they like. When they’re not using their unit, owners have the option of placing it into an organized rental program. Rental revenue, which is shared with the operator, helps defray the owner’s expenses.
This is a wonderful way to own real estate and that’s why I started looking for vacation-type locations that offer condo hotels. The best way to better understand how it works is to actually visit one. That’s exactly what I did in Lake Tahoe and toured the Marriott Grand Residence condo hotel. It was a wonderful property in a great south shore location and I almost ended up buying a one fourth share.
What stopped me you ask? Well, at the end of the day when I ran the numbers, it just wasn’t coming out cash-flow positive. In most cases it probably wouldn’t anyhow but I didn’t want to lose $500+ a month especially when I thought the prices were a bit high at the time (2007). I’m glad I didn’t buy b/c the prices have dropped so I might reconsider again. What really gets you is the fee the Marriott takes out each month. Of course they rent it out for you but at a steep cost.
So if you’re interested in this condo hotel concept of real estate investing, I recommend checking out a location near you. I really love the pictures of Tremblant and will hopefully get a chance to buy a place out there soon!
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Real Estate Investing in Tremblant - Is it Worth a Look? | Real Estate Investing Blog…
David has a great read on investing in Canada - thought everyone might want to check it out - Cheers! Matthew…
David, As a realtor and owner of a few rental properties myself, I would say the best way to advertise is definitely online. I have used rentalspacenetwork.com and think it is a fantastic service, this is a company to look out for because electronic signatures are the way of the future. If I were you I would also post on Craigslist.
Thanks for the tip David…I just went to the rentalspacenetwork.com and posted a free listing. I called to find out more info and they said they are about to launch a new product on their site in conjunction with TransUnion. They said it will let landlords check credit without having to mess around with all fcra laws like the onsight inspections. I’ll be keeping my eyes posted for that.
Yeah I’ll be looking for that too…the FCRA has made it very difficult to screen tenants. I can understand because of ID theft and all but it’s about time someone came up with something better than what’s out there.
Hey David did rental space network say how long before that credit product comes out??
I’m sorry…guess that was Jake that posted that…. Any idea???
They said about a month?
rentalspacenetwork.com gets my two thumbs up! Bout time someone did something techy for the real estate industry!
I roger that…why are we stuck in the dark ages!!!
I’m gonna interject here if you don’t mind. I got approved for tenant screening and it costs me $75 and took two weeks. If rentalspacenetwork.com can really offer something like than it’s definitely worth it.
It is really good, i have never listen about these “Condo hotels” before.but it is good for investment. Thnx David ….
ratan saini
http://www.money4property.co.uk
Money4Property - UK National commercial property investment buyer and UK cash property seller offers you for sell your own UK home property on best sales value. It’s a quick property cash sale home.
No doubt those condos are good for investment but is there any possible market for home builder, too.
I thought this post was very useful, thank you. I read something similair on Don Tishman’s blog: http://tishmangroup.com/
He is a real estate developer with 40+ years experience, and he writes about investing in the market. I recommend the site to readers who want to an alternate perspective.
Yes i am interested in this “condo hotel concept of real estate ” But before going ahead I need even more information. can anyone do this to help me.
There is no doubt about investment in No condos are good for investors i think it is best for investment,but is there a honest builder is available or not any body want to tell me about it.
Our market in Summit County Colorado is still strong and investing in our market still yields 10-17% per year. There are few reasons for that:
1. Limited land availability
2. Summit County is reaching build-out in 2012
3. Breckenridge is a very popular destination for skiers from all over the world and vacation rental income is great. Most properties produce 10% of their value in annual rental income.
Lease Agreements may be the way to go. Also when it comes to moving your belonging, customers seems to have questions regarding that as well. I have personally researched numerous companies to recommend to clients regarding their packing and moving once they’ve found a home. A very credible company that I’ve used in the past was JJ Metro. Just make sure that any other company that you personally recommend to your client is in fact a trustworthy company or else it makes you look bad.
TRP
I think condos have an upside but so does single family homes. There are many positive locations for great property investments. I personally suggest looking into bargain Philadelphia real estate. This is a fantastic area to live in.
This article is interesting. In the Diablo Valley Real Estate area, we are experiencing some unusual pockets of growth. We think it has to do with San Francisco residents downsizing from their $2million dollar condo’s to $1.3k homes.
I would say it is definitely worth a look!
I think the First way to advertise is online, Search engines…
My company’s traffic is over %50 from search engines.
Roie Shapira
http://www.nestseekers.com
Thank you for the great idea, David. I also suggest visiting , there you can also find a number of good tips and articles.
Seems interesting, I also think its worth a look…
yea its worth . i think
As long as this area has the potential of having plenty of snow for the next 20 years or so it will be a good idea to invest in such locations. Twenty years ago property prices in Breckenridge, Colorado. where so low and today the area is almost becoming unaffordable. Ski areas are a great for real estate investment opportunities, nevertheless condo hotels are much more difficult to finance for some strange reason and I would look for a house if possible and in most cases rental income from a vacation home property is great and it can offset the majority of loan payments if not all of it.
This looks very worth it. I would love to check out this area some day!
This would be great for a summer home for those of us living in the southwest US… 115 degrees is just too hot. It’s not a volcano, is it? I only ask bc of the name, haha.
this is the best idea and bets place to spend summer vacation with very joyfully.
This seems like a great place, and a great article - thanks!
http://www.LeasePhilly.com
Yes i am interested in this �condo hotel concept of real estate � But before going ahead I need even more information. can anyone do this to help me.
Great idea. Very interesting article to read.
extended stay new yorksaid
Hi david
I am really looking for that.
you beautifully explain this.
All about canada is interesting.
Thanks for your post
This is a very interesting article I look forward to reading other articles on your blog. Maybe I can be a guest writer for one of your stories. Check out my blog at http://reitvshow.com It is all about real estate investing and my experience. Let me know what you think
Hi David. Great blog and some very interesting thoughts. Come visit some time.
http://philadelphiarealestateblog.blogspot.com/
Another interesting idea is for those perhaps have a second house on the market, but want to offset some costs, is to make it available as a vacation rental. If you want to boost bookings - but lower advertising expenses (who doesn’t??) check out the free resources on Skipjump.com.
Skipjump.com allows you to post your vacation rental listing for free, and will automatically feed your property information into Twitter, Google Base, and RSS. Check it out! http://www.Skipjump.com
hey that’s interesting how ever you have a lot of places where you could posts your rentals
however you don’t find more free stuff its really great
That is a great tip on foreclosure investing David. I will be sure to check that out! Also- I found this training that might help as well. http://www.shortsalebizinabox.com. Keep up the posts! I enjoy reading them
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David very informative blog indeed !!!if you are searching for real
estate investing plans anywhere in canada we could be of great help as we provide solutions for both investors and renters.
Condos are a good place to start if your a new investor. The capital needed isn’t as much, and the ability to rent it out to cover the mortgage is easier.
How is that an “investment” or undiscovered location at those prices?
The steals are still in Costa Rica and other similar places.
wow …..its great real estate investment.
Boise real estate