Our company is currently working on 2 condotel projects in Florida. We are a correspondant lender and can work with an investor as either a correspondant or a broker. Our Miami project is 75 units with an average sale price $300,000 and square footage above 500 sq feet. Our Orlando project is over 500 units of approximately 350 sq ft and an average sale price of $150,000 We are attracting borrowers of all sorts and need investors who can help us finance these projects.

Are you still looking for someone who can finance your condotel projects? If you are, let me know. I'd love to speak to you further about what my company can offer you.

Condotel Program highlights:
Project Lending Capacity up to 100%
Owner Concentrations Waived
Loans Underwritten in-house
Projects Warranted on-site
No Square Footage Minimum
75% LTV on Stated & No Doc
90% LTV on Full Doc
Seller Assists to 9%
Fico minimum 620
Conversion OK
Studios OK

I have a condotel borrower for 385 sq ft unit in Daytona. Price $251-K, Full doc is okay but DTI is high, can you still do it on 90% LTV?
Regards
Ibad
ibadrehman@gmail.com

Who do you work for?

I am a Wholesale lender presently involved with more than a dozen different condotel projects in Florida at the moment. All totaled we've probably been involved in 2 dozen projects in Florida over the last 10 months.
We've also either done, or are currently onvloved in projects in Chicago, Myrtle Beach, Hilton Head, California, and Wisconsin. I would be happy to talk with you in reference to becoming a broker with us and having us fund your loans.