Condotel Financing

       Financial Services of America

Direct Lender- All 50 States Tel 631-451-7400

 

condotel financingNews Release Owners may use

Jim Pendleton - Mr MortgageTM

Owners may use the Condotel when they wish and make their Condotel available for weekly rental through a Condotel rental pool. A Condotel may be a viable alternative to the more traditional approach of buying a condo at the beach as a second home and then placing the unit into a rental program run by a property management company. In many areas of the country, these management fees can run from 25 to 30% of your rental income. Some of the Condotels I have looked at appear to offer a less expensive alternative to the management fees but, as always, you need to do your due diligence to be sure. From a Condotel financing perspective, a Condotel will require a larger down payment than a more traditional condominium.