Condotel Financing

If you are a real estate investor or a person trying to find a new place to call “home”, condos are a great option since they are a space that many love not only for the structure but also the additional amenities that come with them. Just keep in mind that investing in one by using credits is better if you choose condotel financing in specific.

After all, depending on the property you want to invest in, lenders have different options and types of loans to finance them and make sure the terms and conditions are established accordingly along with the requirements to apply for the financing.

Now, what are condos or condotels in specific? They are very similar places to resorts and apartments, or more like a combination of both. Condotels are those structures you see with more than one or two units and whoever uses or lives in them also has other benefits, like security in the area, pools, and other amenities that make it more enjoyable to reside in them. This is why they are also more expensive because you are not only paying for space but also for all the additional services available.

Real estate investors tend to choose them because it is easier to obtain a higher revenue after reselling or even renting them. As for people who decide to invest in them to live in the space or maybe rent them for a couple of days, it is about having a piece of the sky when it comes to a good place + great activities to do every day. If you are interested, you can choose to finance the purchase or investment with your savings and income or go for condotel financing which has more benefits and better terms than regular residential loans and credits.

At Commercial Real Estate Loan Pros of Tallahassee, we have this financing available for both real estate investors and individuals interested in acquiring the properties for themselves. Since they tend to be more expensive than regular residential properties, we finance a higher percentage of the total cost and other expenses like renovations. All you have to do is to meet the requirements we have established for any person:

• Provide credit score.
• Financial records.
• Annual revenue.
• Collateral—which can be an asset or the condotel itself.
• Details about the specific condo you want or need to invest in.
• Your basic information and documentation.