Condotel Lenders

cariduros · #1 (**permalink**) 01-10-2006, 09:05 AM

I have a 400 sq. ft. condotel unit selling for 195K. Anybody know a lender that will do this at a higher LTV than 70%? Difficulty: Also non-owner.

Greg · #2 (**permalink**) 01-10-2006, 10:17 AM

Unfortunately no. I have seen situations like this in Florida. People could not sell them because financing was no where to be found.

I hope someone can post a for sure investor.

cariduros · #3 (**permalink**) 01-12-2006, 12:45 PM

I haven't found anyone else so its looking rough. However, I can do a 2nd mortgage on my own home to get some funds.