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Updated about 1 year ago on . Most recent reply

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Drew Bittle
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Short-Term & Vacation Rental Discussions

Searching for Condotel Studio Lender in Myrtle Beach

Drew Bittle
Posted

Hello BP People!

I just got back from Myrtle Beach SC and I'm ready to purchase a condotel. Problem is, the lenders my Realtor has done business with will not do a loan for a studio. Units require at least a true 1 bedroom. I was told there are lenders that will finance a studio condotel so any advice would be much appreciated.  Thanks in advance.

Drew

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John Underwood
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  • Greer, SC
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied
Quote from @Drew Bittle:

Hello BP People!

I just got back from Myrtle Beach SC and I'm ready to purchase a condotel. Problem is, the lenders my Realtor has done business with will not do a loan for a studio. Units require at least a true 1 bedroom. I was told there are lenders that will finance a studio condotel so any advice would be much appreciated.  Thanks in advance.

Drew

A studio condotel?
That should be cheap enough to literally put on a credit card. If not ask for owner financing. 
  • John Underwood
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