We take a medium-sized ship that is usually being sold by a cruise line which is building a larger ship, and we convert the single staterooms into one, two and three room suites. The ship is then sold to the ship�s condo management association which in turn sells the condo suites to the reservation holders. A certain number of standard staterooms are held out to be rented by travel agencies to the vacation cruising public.
The standard staterooms are booked to fund the annual operating budget of the ship. Crew, staff, fuel, maintenance, insurance, food and the like are paid for by the sales of cruise bookings through hundreds of travel agents nationwide. If desired, these same agents will also book the condo suites for the owners as part of an overall investment strategy. Condo owners start making a sizable return on their units almost immediately and get to enjoy the ship themselves as much or as little as they desire. Down the road, when the ship is retired from cruising, it becomes a floating hotel in various profitable worldwide locations and continues the return for the suite owners for many more years.
Suites are priced between $515,000- $1,280,000.00. Depending on how many weeks a year an owner decides to rent out his suite, a sizable return on his ownership purchase could be possible�much more than the monthly rental of a beachfront land-based condominium.
The purchase procedure requires a reservation fee of $10,000 which is refundable with interest, less a $200 escrow fee. Prospective purchasers would be wise to reserve early as most condo developments sell out very fast and in a week or two, the existing inventory could be exhausted.
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