Have you always wondered what the deal is with the Hard Rock Hotel? Some say they are home owners there! Well here’s the deal about becoming a Downtown San Diego Condo home owner at the Hard Rock Hotel in the Gaslamp District.
You are actually buying a hotel room which you can stay in for 28 days as part of your package. You can stay longer at a reduced daily hotel rate. You get full hotel service such as room service and maid service. You also get a discount card to the hotel restaurants as well as some other Downtown restaurants and you don’t have to stand on line with your VIP card. The maintenance fee varies as to size of the unit as well as the hotel rates. The rates vary on room size from low $200 up to $400 also depending on the size of the unit as well as the convention that is in town. For example when Comic-Con is in town the minimum stay is 5 nights and the rates go way up. Hard Rock gets 10% off the top of the rental income for promotion etc and then the remaining 90% is split 50/50 between the Hotel and the Owner.
The room that I was in was over 600 sq/ft with a sitting room, 2 TVs and a wet bar. The room was immaculate. That is the strangest foreclosure I have ever been in. Many of the sales in the hotel are REOs. This isn’t for everyone but the option is still out there.