It seems sketchy as hell.
They sell an apartment, that apartment in resort. The price is about typical normal apartment.
They said that I own that apartment, and can visit the resort few days a year, enjoying staying at that apartment. Just book your day and they handled the rest. I still not fully wrapped my head about this concept yet, but why not stay there forever but “book” ?
My aunt said this seems good deal. But I feel something fishy.
Is it a good investment compared to normal apartment in residence building ?
Can someone tell me more details on this type of real estate?
A friend had one in mexico, it wasn’t a full scam but very scammy. The property manager said rental market was not good certain years, but it waa possible they just skimmed the profits. Later they property managers did not take care of structure so less rental opportunity. Trying to sell it was also difficult because the local agents know you are in a bind and you get lowball offers