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 CONDOTELS AND LOT LOANS View next topic
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suzyQ
Wrecking crew


Joined: 13 Feb 2008
Posts: 1905

CONDOTELS AND LOT LOANS
PostPosted: Fri Mar 28, 2008 2:40 am Reply with quoteBack to top

All my sources have dried up over the last few months - now getting back in the saddle and have a lot of agents with buyers.

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u7urtp
Flash in the pan


Joined: 30 Sep 2007
Posts: 71
Location: Virginia

Re: CONDOTELS AND LOT LOANS
PostPosted: Fri Mar 28, 2008 3:08 pm Reply with quoteBack to top

Thanks suzy - Another great topic. We have yet to cover this topic in The Niche Report.

Anyone out there with CURRENT expertise on the subject?

Shoot me a PM for potential article submission.

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Re: CONDOTELS AND LOT LOANS
PostPosted: Fri Apr 10, 2009 2:30 am Reply with quoteBack to top

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mahalo guy
Demolition Man


Joined: 28 Jun 2008
Posts: 2082
Location: Honolulu

Re: CONDOTELS AND LOT LOANS
PostPosted: Tue Jun 16, 2009 5:44 am Reply with quoteBack to top

Condotel's have been around for many, many years. They were hard to finance in the early 2000's. I can't imagine how hard they are now. When the RE market goes south, condotel's are the first to go under. Hence, the very large down payments.

I have been punting these loans for nearly 20 years.

The best place to look is a bank local to the property and a portfolio loan, because it's unsaleable.
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football81
Dud?


Joined: 31 Jul 2007
Posts: 18
Location: PUYALLUP, WASHINGTON

condotels
PostPosted: Wed Jun 24, 2009 1:02 am Reply with quoteBack to top

We used to do ton of them @ New Century in Hawaii back in the day! Oh the glory days of subprime. lol

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