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Updated about 4 years ago on . Most recent reply

User Stats

9
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8
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Michael Sloan
  • Property Manager
  • Richardson, TX
8
Votes |
9
Posts

Financing a Condo for Student Housing

Michael Sloan
  • Property Manager
  • Richardson, TX
Posted

Anyone have a recommendation for an investor friendly lender who can close a condo deal quickly.   The issue I'm running into is the current management company has it leased out by the bedroom.  All the lenders I've talked to have a problem with this.  As soon as they hear it's leased by the bedroom they think it's a boarding house and they either want to redo the lease, or they can't do the loan.

Any ideas?

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