Newsflash: lending – condo hotel resort, trying to add another to portfolio.

I own condo hotels in florida that I rent out and have been doing well with them. Another owner offered me his unit and I am looking for financing ideas.FYI: traditional mortgages do not work because Freddie and Fannie do not lend on condo hotels.I am not a corporation (llc, S, etc) and I have liquid cash for 20 – 30% down payment, perfect credit, and high income. currently only have mortgage debt which has 80k+ of equity. I have cash investments and a income that can easily support the loan.Any thoughts where I should look? I do not want to pay cash because I will incur penalties for moving the money and to get loans against the investments will require moving them into a single account which would cause a taxable event.Thanks!

Read more at https://www.reddit.com/r/RealEstate/comments/75rw7e/lending_condo_hotel_resort_trying_to_add_another/?utm_source=ifttt

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s