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.
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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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