Hi, Tim, The Spa Villas at La Quinta are a good investment if you purchase them in the 200K range. I had an investment company that purchased four of these units when the market was at its peak. The property was very controversial due to the fact that it was considered a hotel rather than a condo.
The project was misrepresented to many people who bought early. If you watched the values over the last four years they have plumented to around 199K for the 2/2 and over 400K for the larger 3/3/ units. If you enjoy the closely built comfort of the four plexes then you will have in the long run a very good rental property once the market trends move upward . This could take up to five years. An investment would be a HOLD POSITION. Location, Location Location. We were able to get our money back after a long battle with the builders. I would certainly read the fine print on the community and find out who manages the community. What the CCR's say about rentals. Sometimes it is mandatory that the hotel,put these condos in their rental pool. Buyer beware!. But maybe you can get a good deal. . Read all documents before closing. Also see fees for the club as well as the HOA fees for the Condo you are purchasing. I have always thought this project was a win win situation at the right price. Write to firstname.lastname@example.org with any more questions. Jan , Keller Williams Realty La Quinta Ca., 760-3990221.