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Updated almost 2 years ago on . Most recent reply

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Megan Rycroft
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14
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Analysis paralysis on an non-warrantable condo in Florida

Megan Rycroft
Posted

SOS on helping me NOT overthink. :) 

I made an offer on a condo - only to find out it's non-warrantable.

It's a small studio located near Cape Canaveral. A few issues I am having trouble with:

1. Obviously financing, add in the extra layer of being foreign! I did find 1 private lender who is open to the deal. 

2. I have requested more insight onto why this condo is non-warrantable but I am not getting a clear answer. I am sure they want an official offer from an approved lender before providing, but I don't know if I want to go through that process just yet without all the details. I do have an approval already from the bank - they just aren't going to fund  that property & seller won't accept that as a viable offer 

3. While I feel the market is strong and this could work as a STR ( it allows weekly rentals) I'm going back and forth on the issue with reselling in the future and what that might look like in a few years.

4.  Basically since this my first out of country investment, I've been driving myself crazy with analyzing this.  Sometime it's nice to hear any insights from anyone more experience than me!  Thank you in advance for trying to put me out of my misery! 

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