Updated over 4 years ago on . Most recent reply
Short Term Rental Financing
Hey everyone! I am out of state and I'm looking into the short term rental market around the Orlando area and I had a question regarding financing. Is it better to look for a local lender in the area I want to buy as they may know that area inside and out, or is it best to look for a national lender (Wells Fargo) to help with financing. Any input would be greatly appreciated. Additionally, I already own a home that I currently live in so I was lookin to get this short term rental as a vacation/second home since the down payment can be less then if I consider it an investment property. Does anyone have experience with this that can shed some light on the pros and cons?
Most Popular Reply
@Sean Beyrouthy I would not suggest you go with the national lenders, as they are typically more profit focused and less user-friendly. A smaller local bank will be more personalized and will sometimes work harder to keep your business.