what is a condo-tele?
Me and my partner Been looking to purchase a vacation rental property and the term Condo-tele has come up. Doesn’t pop up on google. Anyone know what this term
Means? And what separates it from a normal Condominium? Any positive/negatives u can provide would be helpful.
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We just closed on a Condo in Galveston on Friday. I understood it to mean pretty much what is wrote above but my lender said she couldn't lend on it so I asked if we could do a re-fi on a SFR that we own and that's how we ended up doing it. In the long run it was better this way for us having the condo paid off because of the fees. I'm a worry wart and I've never done vacation rental so having the fees to meet every month and the note I think would've cost me some sleepless nights. This way the note is small and on a rental that cash flows very well.