General: Does it cost me more money to work with your service than going directly to the development? NO, our service is FREE for all of our registered clients. There is no additional charges or price uplifts to use our services. Pre-construction resort pricing delivered through our service is exactly the same as offered by the actual development itself. Why does Legacy Resort Consulting (LRC) Exist? To serve you, the buyer. First, we understand that in order to be in a position to buy a piece of pre-construction real estate, that you need detailed, comprehensive, integrated information. Second, we understand that you have specific buying criteria that need to be understood and executed upon in order to satisfy your needs. Third, we understand you need a quick, useful method to search what is available against your specific buying criteria to arrive a small group of candidate developments for further consideration. Finally, we understand that you need expert, objective support across an entire pre-construction development portfolio now, and in the future. We have structured our service around these critical elements to provide you with a more enhanced, better buying experience. We want to help you own your paradise. Let’s get started today! Does Legacy Resort Consulting (LRC) represent EVERY pre-construction resort? NO, although we represent a very robust and diverse portfolio of pre-construction resorts, we do not represent every single resort. LRC is very stringent with respect to which developments are chosen for placement into our portfolio. LRC chooses to only promote the finest designed and developed resort property throughout and around the USA for our clients. Anything less would be a total disservice to you our valued clients What is the goal of Legacy Resort Consulting’s (LRC’s) service? The main goal of our service is to provide a better, more enhanced buyer experience. For so long the onus has been on you (the buyer) to find out what pre-construction resorts are available, perform your own research, sit through sales pitches, and maybe one day become comfortable enough to make a decision. Our service changes that paradigm. We understand that you (the buyer) need a quick and useful way to search for pre-construction resorts that satisfy your specific buying criteria, need critical information quickly to evaluate the property, and need the information supported holistically and competently. We do the work so you don’t have to. Perform a dynamic search to locate and evaluate the property of your dreams. We are here to answer any and all of your questions and support you from start to finish. Legacy Resort Consulting….We are bridging the gaps between Pre-Construction Resort Developments and those who want to own them. What if I am looking for something specific that you don’t offer today? Contact us and let us know what you are looking for. We are often adding new pre-construction resort developments to the portfolio and have vast knowledge of what is coming in the future. So if you don’t find exactly what you want in the portfolio today doesn’t mean it won’t be there tomorrow. Register for our free monthly status e-letters and new development alerts. Let us notify you when your specific paradise has arrived and deserves your attention! I keep hearing that now is a soft real-estate market? Why would I buy into that? Because it is the right thing to do for a couple reasons. First, asset markets are cyclical and over time all markets rise and fall. During perceived “soft” times, the “smart” money invests in desired assets when very few others seem to want them and most press and media is negative against it. The more negative the better and the more the “smart” money buy. The reason they buy is to maximize their opportunity for return on investment. Once markets stabilize and bottom, they often begin to turn and surge. Unlike the vast majority of the public, “smart” money doesn’t move with the “herd” or the media. They get in ahead of the “herd”, the positive cycle, and all the positive media that will soon be likely to come. For once the market turns, the “easy” money is typically already made and prospective returns are a bit less. Once everyone recognizes how wonderful and lucrative a market cycle has become the smart money feels that most of the move has occurred and looks for possible exit strategies. Second, much of real estate appreciation and ROI is location. Pre-construction resorts are typically in the most highly desired locales in and around the United States. They are located in and around popular beach, ski, metro, and waterpark, attractions that draw a tremendous amount of annual tourism and desired addresses. Desired real estate in these areas is very limited and is typically resilient in down markets, and quick to appreciate in boom markets. Third, due to location, and the “five –star” design and amenity detail of most pre-construction resorts, the demand is very high to live and vacation in these developments. Most times, the pre-construction sales price is the lowest that anyone will ever pay to own their paradise and often, the price will go higher even during different phases of pre-construction, before the development is even completed. Condo-Hotel: What is a condo-hotel? The simple answer is that a condo-hotel is a deeded piece of real estate that is managed, and operated by hotel company (typically five-star rated) whose units are privately owned. Most units are typically owned fee simple and have rental sharing programs available that produce cash flow revenue for the owner that helps defray the total cost of ownership. What are the advantages of condo-hotel ownership? There are many advantages to condo-hotel ownership. First is the opportunity to own a fully furnished, luxurious property in a highly sought after location filled with four and five star amenities and services. Most condo-hotels are large structures that are appointed with the finest amenities, appliances, services and staff created for the sole purpose of your happiness and pleasure. In addition to the masterfully created living spaces, many condo-hotels offer full spa services, lavish resort quality pools and social areas, fine dining restaurants, concierge services, boutiques, shopping, and are located in exceptional places offering breath-taking landscapes and views. Second, is the opportunity to include the condo-hotel in the hotel management sponsored rental program. Including your condo-hotel unit into the rental program will afford you the chance to have your unit rented much like a hotel room when you are not there. The management team is responsible for all of the coordination, upkeep, maintenance and work. Renting the unit produces cash flow that defrays the total cost of ownership. This ability creates a unique situation in which the condo-hotel owner can take advantage of hassle free rental revenue and appreciation. Third, the condo-hotel market is strong. There is a limited amount of condo-hotels available in highly desired locales. As such, demand is and will continue to be extremely high. Most, if not all, of the condo-hotels sell out in pre-construction well before the development is completed. Explain the agreement between owner and hotel management company? In most cases the agreement between the condo-hotel owner and the hotel management company exists to define the terms and conditions under which the unit will be rented on the owner’s behalf, when the owner is not present. Topics often discussed are: • Revenue percentage splits between condo-hotel owner and management company • Any other deductions from cash flow if any (i.e. furniture, maintenance) • Responsibilities with items such as insurance and real estate tax • Notice if any that needs to be considered and delivered when coming down for some much needed time away. What if we don’t want to enter our unit into the rental program? You don’t have to enter the condo-hotel unit into the rental program. In fact, in most cases you could choose to take the responsibility of renting the unit yourself. This is not highly recommended, however, as the unit is typically most occupied when entered into the rental sharing program offered by the hotel management. Will the developer or management company guarantee rental occupancy? No, unfortunately rental occupancy percentages or rates are not guaranteed. In many cases projections and expected averages are available to help set proper expectations, but they are not guaranteed. Is financing available? How do I get financing? Financing is available through many different lending institutions. The concept of the condo-hotel is well understood by the financing community and is seen as a valid and supported investment. When is best time to buy? The best time to buy is typically in the first phase of a pre-construction resort development. This is because sometimes prices will increase between each phase of development depending on demand and available units. So, in most cases, and from a return on investment (ROI) perspective, earlier is better. Also, it is best to buy when you are ready and it is your time. Nobody should rush or pressure you into making a decision that you may not be happy with. You should make your decisions based on the criteria that are most critical to you. We are happy to help you in this process every way possible. Can you notify us when a new development becomes available? Yes. Please register for our monthly e-letter and new development alerts. For every new pre-construction resort added to our portfolio, we release a notification to all of our registered users, which have requested it. The new development alerts serves as notification that a new pre-construction resort is available. The alert also offers an overview and some insight into the new opportunity. Let us know what you are looking for! We want to help you seek, evaluate and own your paradise! Fractional Ownership: What is a fractional ownership? Just like is sounds, a fractional ownership is typically the deeded ownership of a piece (or fraction) of a development unit or property. With a fractional ownership there are usually several owners that all own a piece of what is typically a larger, stand alone residence. Why buy a fractional unit? People that are most interested in this style of ownership are those that are looking to own only what they will utilize. So those that have a couple weeks per year to enjoy a residence may lean toward this option because they are interested in actual property ownership and the possible resulting appreciation. At the same time they want to enjoy themselves in the hassle free, five star lifestyle that accompanies most fractional residence properties. What are the advantages of fractional ownership? There are several advantages to fractional ownership. First, is the opportunity to own a piece of an often ultra-luxury, large, stand alone residence in a wonderful location. Second, fractional ownership is completely hassle-free. There is no concern with rental revenue or maintenance at any level. The buyer is still a property owner (albeit fractionally), but is still in a position to gain from any resulting appreciation. Third, the fractional owner is really only financially responsible for what they plan on utilizing. How often can I visit my fractional property? Depending on the number of owners typically you will be able to visit at least two weeks to thirteen weeks per year. In most cases there are less owners in a fractional situation, than say a timeshare, so there is much more flexibility with when each owner can visit. Is Fractional Ownership the same as Owning a Timeshare? The very significant difference between most timeshares and fractional ownerships is that with most timeshares, you own only that…time. With timeshares, there is typically no deed or property ownership that can appreciate in value over time. In fact, in many cases a timeshare will be worth less when you try to “sell” it than when you bought it. The reverse is typically true for fractional ownership. Albeit fractional, the buyer is a deeded owner of a piece of property and has all the rights to their portion of the resulting appreciation should there be any at the time of sale. Full Ownership Residences: What is Full Residence Ownership? A full ownership residence is hassle-free ownership of a unit in a pre-construction resort that will have same luxury accommodations and services as the condo-hotel but will not be included in the rental program. Full Ownership owners can occupy the residence whenever they choose without any notice. Should any rentals occur, they will be coordinated and facilitated by the owner without any assistance from the hotel management company. Also, full ownership extends outside of the condo-hotel arena to single family dwellings and condos that owners typically plan to spend a significant amount of time living in. Why would one choose Full Residence Ownership? Full ownership residences are sought after mostly by those who plan on spending a lot of time in a couple different locations during the year. These owners typically are seeking super luxury, maintenance free accommodations, are not interested in rental revenue because they are there so often, and desire to be able to occupy the residence at a moment’s notice. Who are the management companies of full ownership? There are some hotel residences available that are managed by well known, reputable brands including but not limited to St. Regis, Starwood, and Ritz-Carlton. Other full ownership residences are private dwellings that are not managed by anyone and are under the full control and discretion of the owner at all times.