If you are a regular visitor to South Florida, perhaps you have stayed at some of our region’s beautiful condotels. If so, you may wonder whether it would be worth it to invest in a condotel unit. After all, you are already paying to stay in the condotel while you are in the area, so why not choose a unit to make your own, and maybe earn some extra money from it?
A condotel in Miami or the surrounding region can make a great investment. But before you move forward, you need to weigh the pros and cons. This will help you decide whether investing in a condotel is a fit for you.
You now are aware of some of the advantages and drawbacks of investing in a condotel. Financing a condotel is different from financing a condominium, so it is important to work with a mortgage company that is experienced with condotel loans. At Lending Bankers Mortgage, this is one of our specialties.
Ready to buy your own condotel in South Florida, or just want to ask some questions? Give us a call today at (786) 220-1100 We can help you figure out whether investing in a condotel would be a good fit for your financial goals and can connect you with a competitive loan.
Client Testimonials
Building lifelong mortgage partnerships is our mission. Explore our clients’ experiences through our Google reviews.
I would like to thank Pamela and David at Lending Bankers Mortgage for their exceptional service in helping me find the right loan for my primary residence. Their expertise and dedication made the process smooth and stress-free. I highly recommend them for their amazing customer service and professionalism. Thank you, Pamela and David, for all your help!
David, thanks for helping me and my business partner acquire the space we needed. Your comparison analysis on payments, cash on cash returns and amazing fixed rate program helped us want to proceed on this deal and we're very happy we did. You are more than a financial advisor in the real estate arena, you have a great understanding on how to utilize real estate assets to build wealth and that's something I never before had help with. No realtor, or financial advisor I've encountered knew how to crunch the numbers and get the most value like you do. Forever gateful for your assistance and I will definitely refer my family and friends to you. Thanks again!
Lending Bankers Mortgage (Danny Perez and David Otero) was recommended by RPM Luxe Realty. From day one, Danny made me feel comfortable. I went through the pre-approval, approval, clearing to close, etc. processes with Danny figuratively holding my hand the entire time. There were times when I was literally crying because I was so frustrated and scared and Danny made me feel like everything would be okay. In general, I think RPM Luxe and Lending Bankers Mortgage make a great team. Danny is very relaxed and I’m not sure that he ever feels stressed, which is something unfamiliar to me. I think it’s because he has been doing this for quite some time. Additionally, Danny treats his clients like family. If anything is wrong, Danny takes it personally as though it was his own personal situation. If you are looking for 24/7 concierge service, Danny and David are your guys. After the Thanksgiving holiday, Danny was inflight and texting and emailing the entire time. I was grateful that American Airlines’ Wi-Fi was working so well.
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Lending Bankers Mortgage LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.
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