You sound like Timber!Anyway, I took a lot at the lobby. Doesn't look like a Hilton. Hope that the price falls by another 50%.
You sound like Timber!
I would suggest totally avoiding the properties with restriction on usage. I have seen some recent jaw dropping deals in Whistler. My top picks would be Whistler Village and ski in / out condos zoned for nightly rental. There are very few three bedroom units and they are highly rentable. I have seen a 3 bedroom unit go for $595 000 which in 2002 would have been 1.2M The Aspens on Blackcomb (ski in /out) 1 bedroom units in the low $300 00's , in 2002 $600 000. Market place Lodge 1 bedroom $199 000, in 2002 $350 000. At these prices passive monthly rentals can be cash flow positive. Self managed nightly rentals can be a win fall. It is not all doom and gloom, well located chalets have retained their value.
I'm told by a realtor that the Hilton property is not restricted to 26/26. However, it is not cash flow positive.
I take it to mean that the fees and commissions are horrendous. No go!
Anyway, I took a lot at the lobby. Doesn't look like a Hilton. Hope that the price falls by another 50%.
Suggest that a visitor take a look at a rental condo instead of buying into a condo-hotel.