It was May 13 and it was the team’s last show on KABC, nevertheless, the team composed of Joe Aldeguer, Jake Hartford, Mike ‘the builder’, and Stacey Michelon did not waste any time in educating their listeners on how to invest in real estate, specifically on condo hotels.

This time, the team talked about international investing. Mike said that he had traveled to Canada and he believes that construction there and in the U.S. is different because he thinks that they are not so unionized. Even though he hasn’t worked there yet, he can see several differences aside from what was mentioned before because even the tools they work with are different. Joe told the team that the quality between creating a hotel here (in the US) and abroad is just the same.

The team agreed that if you want to invest internationally, you must research on the laws and rules there, as a matter of fact even if you’re in your hometown, so you won’t get burned in the end and you’ll be able to get your money’s worth.

Joe explained why they are focusing on making money on hotel business of real estate:

Let’s suppose I have a regular condominium, a one bedroom unit which cost me around $400,000. Well that condo if you rent it out for a month, at the most, probably would be $2500 a month. It depends on the location let’s say if that’s in Sta. Monica it would cost a couple of grand. One of the hotels there in Sta. Monica, the smallest room you could get is probably $250 a night or let’s say $200. The average occupancy rate there is 70% (you can research on that through the tourism board) so for 20 days times $200 is $4,000 per month versus just $2,000, that’s a big plus right there. But the bigger advantage which I like even more is the rights of the landlord versus the rights of the hotelier. In hotel you stay past noon and you don’t call for a late checkout guess what: your key won’t work; you’re kicked out, etc., etc. you got to go repay and sometimes if you stay just 5 or 6 hours they will charge you half the rental fee. And the other pro of the condo resort is, if you own just another condo and you got a tenant and at 5 o’clock Saturday night and you’re sitting down watching the Angels’ game and you got a call “gee, guy you got to come and fix the toilet” you don’t want to do that. You want someone to do that and if you own one or two or three units like that, they hire a company out to do that and it gets expensive where if it’s the resort run by the Morgan’s Hotel group they manage the whole property, you don’t get that call.

The team reiterated that people need to invest their money on something that will be able to return it in time to be able to save money. One thing about credit, the team said, is that it is repairable but you have to be disciplined and committed to it and don’t be afraid to invest and acquire more properties.

To get more information, you can call 1.800.FUNDS34 or apply online at Funds34.com Making Money in Real Estate with Joe Aldeguer radio show airs every Saturday on WLS 890AM Chicago’s Talk Station, 10:00 a.m. to 12 noon.

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