If you think that your hotel or motel is not in good shape and you wish to bring some necessary changes, you must consider condotel financing. It is available at reasonable rates at Commercial Real Estate Loan Pros of Fort Myers. This article contains information about condotel financing in detail.
What is a condotel?
It is like a traditional condominium that is designed to function like a mini-hotel. They are located near tourist spots. They can be privately owned by other people and then rented further. The primary issue which arises during condotel financing is that they are considered as non-warrantable structures.
Now you are familiar with what a condotel is. Condotel financing is simple and self-explanatory in that case. If put in simple words, condo financing is the procedure in which you invest in a condotel by using funds from available sources such as banks, private lenders, small business administration (SBA), or other investors.
There are a few difficulties which are faced while considering condotel financing:
- Slightly higher interest rates
- Sizable down payment
- income and asset analysis
Why choose Commercial Real Estate Loan Pros of Fort Myers for commercial real estate financing
Although there are numerous private lenders in Lee County, business organizations still come to us for commercial real estate loans. A few of the reasons are:
Full-Service Commercial Real Estate loans provider
In commercial real estate financing, there are a number of regions involved. Commercial mortgage financing, private money loans, private mortgage loans, etc. being some common examples. Your business may require any of them. It’s the reason we support almost every commercial real estate financing domain.
We are a full-service commercial real estate loan in Fort Myers, Florida (FL), and we can help you with almost every commercial financing need. You can think of our organization as your one-stop destination for all kinds of loans. With such diversity in services provided, our customers are happy and never feel the need to change their loan providers.
Experienced in the CRE domain
Our commercial financing company has managed several business entities and has disbursed hundreds of thousands of dollars of loans to date. We know the requirements business owners have these days and what terms & conditions they agree upon. The teams we have here are knowledgeable and stay updated with the latest trends. They’ll assist you in choosing the right financial product that meets your needs rather than doing wrong by you and giving you wrong suggestions.
Adjustable terms and conditions
Our skilled advisors and industry experts try to ensure that all of our products are flexible and tailored according to individual requirements. If you want to make any amendments like the repayment date or interest rates, our professionals will help you. This way, you won’t feel bound by the strict terms as it is in bank loans. If you want to enjoy such advantages, this is the best place for you to be. So, do not waste your time further. Instead, contact us today and get the best services available.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.