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What it costs to buy in on a fractional vacation property in Minnesota
['Jim Buchta', 'Jim.Buchta Startribune.Com']
Star Tribune
The model, which differs from a timeshare in that fractional owners have a deed to their share of a specific property, allows buyers to own at least a portion of lake property that can be sold like a traditional piece of real estate.
Also, while rental revenue is an option to help cover costs, it comes with another fee for help finding vacationers and people treat your property like a hotel.
Odyssey Resorts still manages it.
The monthly HOA fee is $2,120 a share and covers electricity, propane, interior maintenance and repairs, unit supplies and linens, cleaning, insurance, property taxes and other costs.
A quarter share of a former cabin in the Breezy Point Resort on Lake Superior is listed at $269,000.