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. I’ve also been tempted to explore by the Italy real estate market but the distance alone (I live in CA) might be too much of a barrier for me.
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.
UPDATE 10/14/09: It’s been one year since I went and looked at the Marriott Grand Residence and I’m very glad I didn’t end up buying back then. I was up there two weekends ago and the prices have fallen roughly 40%! I would’ve taken a huge hit if I purchased one last year and I was thinking about buying now but decided against it. I spoke with a time-share agency up there and they said it’s tough to rent them out. Also Marriott takes 40-50% of your rental income if they market and rent it out. Most weeks it would be vacant with no rental income and I wouldn’t use it that often myself. It’s a great idea for someone who works non-traditional shifts like on the weekends who could use it during the week, and then rent it out on the weekends.
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…
I am an investor and have two properties and am looking to pick up some more. I am always watching the market now that it is so turbulent. The question I had is what is the best way to advertise my properties for renters? I found a free site RentalSpaceNetwork.com that has free lease exchange and property listing advertisement. What is the best way to advertise my property, create lease agreements, handle payments, and verify credit with limited cost?
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 ….
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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.
I agree with you, it is a great investment
Nice Post. Your information will be useful to people who like to know about real estate market investing. The new comers of real estate market can learn secrets and tricks from experts. Books, CDROM course and training course in online are available to get valuable information about real estate market. To escape from recession, real estate marketers have to know about secrets of investing in real estate market.
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Let’s go check it out!
Rob for Atlanta Real Estate
Real estate investors should always look to markets where the fundamental economics make sense. This may mean out of local area, out of state or even out of country!
I will visit Canada in a year time and may be worthy to have a look there. It looks like an interesting place.
Max I completely agree with you. More and more buyers are searching online for homes. A majority of my sales were generated off of an online search. With the <a href="http://www.homesincentralsandiego.com/"California market being so competitive, without an online presence, one is missing out on a large market. And with the new technologies available, such as features on Google Maps, online realty is becoming more and more popular.
Been to Tremblant in the winter and it was fun even then although we’re not usually happy in colder climes. Delightful place nonetheless.
Thnaks all the same but I’d rather play golf here in Sarasota Florida than wade thru the snow of Canada. interesting information you present in any case. Thanks,
I just happened upon this article and noticed that Connie, a friend of mine, had just commented a few minutes ago on prefering Sarasota Florida to Canada in the Winter. Wjat a coincidence!!
I have to tell you I agree with her but the Mont Tremblant area is indeed a wonderful place to visit in all other seasons.
I am glad you did not spend a lot of money buying condo being that the prices dropped dramatically. It is a hard time in real estate right now due to the tough economy.
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It’s interesting how the content of this post changed through time. In 2008 when it was written, the question was more about “is this overvalued?” Now the question is “Is this a good enough bargain compared to other bargains” or maybe even “will this market ever recover sufficiently?” I think so.
It’s the same with other luxury markets like the New York condo market or San Francisco or the boston luxury apartments market. Did they drop low enough, and if so, will they recover soon enough?
ty for my comment sharing. I’m waiting to visit my site
Great article!.. I will definately try to apply it to my local market in Pickerington Ohio.
This is really great information, thanks for sharing this, please keep up the sharing of your informative post. I’m looking forward to it.. Thanks
Though i don’t have much of the knowledge about the place but still investing in here will be no harm. Moreover the information provided id also very helpful in taking the right decision.
This is a great article. There are a lot of similar great investment opportunities in the Columbus Ohio real estate market.
Mt. Tremblant is beautiful!
I think i;ll better go for a foreclosed properties.. I have here my source of cheap foreclosure Cheapest Foreclosure
It’s free to join and they actually own their homes and not just a broker.
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Great Post for Real estate Investment
Now Rent Villa in Dubai is also available for long and short stay in Dubai
The Tremblant market is a tough one, it is a real estate deal and with the development of the South Side, there are more and more residences being built.
Demographically, less people are skiing now and interestingly enough, their hot season is the summer and winter, for years it was only the winter. The winter season has slowed though, compared to previous years.
Don’t think this is a good financial investment, but pending your lifestyle, could be a great LIFE investment!
G
Great article on this blog. Keep it up. Thanks.
Canada is wonderful, definitely worth looking into!
This is an amazing viewpoint on Canada. Keep up the wonderful work!
WoW! What a great destination place to own property, whether high-end or these new condo/hotel properties!
Too bad Santa Barbara with similar home prices doesn’t also have options for small units at more reasonable rates.
Very interesting.
Great property deal from this article……continue this good work
mmhh great property deals……
Great property deals!
Being about to rent out your second home or holiday house when you are not using it is a great idea. Most people tend to force themselves to vacation a certain number of times a year to their second home just to reinforce the need to have it. This takes the guilt out of choosing to vacation somewhere else from time to time.
Hi david
I am really looking for that. you beautifully explain this.
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I have heard great things about this area!
Hi! I do agree! Online websites of real estate listings are now very popular nowadays. Online MLS is easily accessible and potential home buyers can conveniently make initial assessment of the house because of the photos and virtual tours featured in there. Please visit the online MLS of Irvine Homes for Sale if you are interested in home investing.
true that. I think that this concept is cool. though it might be hard to realize this plan. Well, starting a new concept in the real estate business might give one a success, like this condo hotel concept, but of course with right planning and execution.
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A good way to buy is to visit free classified ads at classifiedsinn.net.We believe that a beautiful place to stay is Abano Terme a beautiful city Near Venice. We here have found a beautiful property but we can not buy http://www.classifiedsinn.net
We visited it and was fascinating!
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