The team at Gustan Cho Associates are specialists in condotel financing in Florida and. (866) 803-2853. Apply Now and Get a Quote Today! Get more details. For monthly updates on current listings and new closed sales, sign up for our Myrtle Beach Downtown Oceanfront Condos Real Estate News, one of the 50 versions of our e-newsletter. Book Condotels at One Ocean Place, Garden City Beach on Tripadvisor: See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place, ranked #2 of 10 specialty lodging in Garden City Beach and rated 4 of 5 at Tripadvisor. Condotels at One Ocean Place: DONT STAY HERE - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. To get a condotel unit or non-warrantable condominium unit approval, the condotel unit or non-warrantable condominium unit needs to be the following: at least 500 square feet. North Myrtle Beach, South Carolina. Warrantable condos are one that a homebuyer can finance using a conventional mortgage, after having been approved under a set of guidelines set by government-sponsored enterprises Fannie Mae and Freddie Mac. In the same respect, if the location of the condotel goes through a period of unpopularity, then your rental rates can suffer as well. com. Orlando, FL – New Pre-Construction Condo Hotel. A condo is also known as a condominium. Stay in touch with us at 843-999-0575 or email directly to aaron@aaronmillerinsurance. Inquiries. Let’s assume that the cost to purchase a condo is $250,000, in order to break even the hotel would need to charge $250 per night for your condo and rent out at least 60% of the time. Home Spring is aware of the increased risk, but as with most of our non-traditional loans, we are willing to give people a little more leeway and assume higher risk to help people realize their dream of owning a second property. Max 75% LTV Purchase. 575 or greater credit scores. Read more here: AllProperties Latest Blogs. The Villas at Old South is a community of condos in Bluffton South Carolina offering an assortment of beautiful styles, varying sizes and affordable prices to choose from. For Sale. South Carolina Condo Hotel Financing. The median price for homes in South Carolina varies dramatically from one county to the next. It’s a great way to own a fully furnished condo and be able to rent it out on a regular basis. Condotels; Project Reviews; PERS Submissions . Like other non-traditional mortgages, a condotel loan will require the borrower to provide a down payment toward the property. 15% for a 15-year fixed mortgage. Step 2: Follow the Condo Project Review Type Requirements. Mortgage rates for condos and other types of properties have been volatile in recent years. Known for an endless array of restaurants, shopping, entertainment, and miles of sandy beaches, the Grand Strand is a major tourist destination with more than 14 million visitors flocking to Myrtle Beach, its primary city, each year. Condotel Financing Mortgage Guides Require 25% down zahlung, 680 FICO, 43% liabilities to income ratios for first and second condotel units. Our quick loans come with competitive rates, flexible terms and convenient online banking. owner financing available! no need for traditional condotel financing hassles! direct oceanfront full 1 bdrm, 2 queen beds plus murphy bed-full kitchen! coral beach resort is continually v Yes, You Can Get Condotel And Non-Warrantable Condo Loans. HomeBridge announces more relaxed guidelines for CONDOTEL financing in South Carolina!Browse photos and listings for the 33 for sale by owner (FSBO) listings in Myrtle Beach SC and get in touch with a seller after filtering down to the perfect home. A&D Mortgage LLC is licensed by. 2507 S Ocean 1/13 Blvd Unit 905. There is no maximum loan size on Condotel Financing Mortgage Loans. Blissful Mortgage is your Condo Mortgage loan experts with 17 years of experience. But what is a condominium hotel or condotel? A condo-hotel is a new trend in the Myrtle Beach condo market. , A151 Myrtle Beach SC 29575 Listed By CENTURY 21 The Harrelson Group. 40% down payment, or 60% loan to value is required if. Condotels at One Ocean Place: Never Again! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Learn more about local market trends & nearby amenities at realtor. But with a condotel, you can purchase a property that is available for your personal use and it can come with a much lower price tag. Stay tuned for more insights and knowledge on condotel financing! Let's Talk Mortgage 1,778 follower + Subscribe. Learn more. Condotel Financing Solutions: Unlock Your Dream Investment in Myrtle Beach. Loan amounts up to $6 Million. Condotel And Non-Warrantable Condominium Mortgage Underwriting Process. Here’s how to get your score: Complete the form below. A: I do not support the development of the 21-story condotel. In this second part of our blog series on condominiums and condotel financing, we will explore the advantages of condotel investments and provide insights into how mortgage brokers can assist clients in unlocking the full potential of this unique property type. Various Condotel Projects are popping up in Destin, South Beach, Panama City Beach, Palm Beach and Miami. Condotel. 201 South Ocean Blvd. There is no maximum loan size on Condotel Financing Mortgage Loans. The condotel will be operated for 15 years. View photos of the 106 condos and apartments listed for sale in Charleston SC. At Acorn, let the best loan offer find you on our secure and user-friendly platform. 438. 788%. Interested in financing for condotels? This article is for you! Read it to learn the difference between condominium and condotel loans. As an example, a lender would offer 80% LTV (loan to value) up to a $350,000 loan; 70% LTV up to a $650,000 loan amount; and 50% LTV up to $1 million loan amount. $24,000. Condotel financing is one of the things you need to be considering even as you consider taking on this business. 386 sqft. Financing for new and used vehicles. 2 BDS | 2 BA | 1,100 SQFT. Alpha Mortgage is licensed in North Carolina (L-113831), Virginia – Licensed by Virginia State Corporation Commission (MC-4927), South Carolina (#93265), Florida (MLD1700), Georgia (#93265), and licensed in Texas – SML Mortgage Banker Registration. CONDO SPECIALISTS. com®. 30 room nights free every year with an option to use 3 nights/year/other hotel of Sta. Address Line 2. 10% minimum down payment is required. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ;. Typical features could include an onsite rental office; onsite commercial space (s) such as restaurants, day spas, convenience stores, etc. Condotel and Non-Warrantable Condo Financing are 30 year adjustable rate mortgage portfolio loans. Friday, November 24, 2023. 4 Beds 2. Not many traditional lenders will allow condotel mortgages due to their increased risk. C. Elliott Beach Rentals has been specializing in professional management of beach homes and condos since 1959. 91% for a 30-year fixed mortgage and 7. As of Wednesday, November 22, 2023, current interest rates in South Carolina are 7. Unfortunately, your hometown lender is not going to have such a program but the lenders on our list will. Minimum FICO 680. 9% over the past year, and are expected to rise another 7. Or email us at gcho@gustancho. Note: Easy Street Capital’s current minimum loan amount is $75,000 for a DSCR Loan. Myrtle Beach, South Carolina, United States I've lived in the Myrtle Beach area for over 30 years and raised 3 daughters here who are natives. Prequalify. 1 bed. Please contact us at (786) 220-1100 to set up your free consultation. For those who need condotel financing, please contact us at Gustan Cho Associates at 262-878-1965 or text me on my cell for faster response at 800-900-8569. The Villas at Old South condos for sale range in square footage from around 1,000 square feet to over 1,400 square feet and in price from approximately $269,000 to $330,000. Up to 65% LTV on bridge loan for amounts between $1,500,000 to $2,000,000. We can offer both warrantable and non-warrantable condo financing. Step 3: Confirm the Condo Project Insurance Requirements. Our Mortgage Experts. Developers Reconsider the ‘Condotel’. favorite_border 0. Free Wifi. Warrantable condos are one that a homebuyer can finance using a conventional mortgage, after having been approved under a set of guidelines set by government-sponsored enterprises Fannie Mae and. Condo For Sale In Myrtle Beach, South Carolina. Call ☎ (800) 697-4371 info@afbcarolinas. 1 Baths. . Low rates and flexible payment terms come standard with all South Carolina Federal auto loans. Call ☎ (800) 697-4371Condotels at One Ocean Place: The nicest place that we have yet to stay at Garden City SC. 00 and $350. com. Qualification based on Property Income, Not Your Income. Reed has been profiled in and written articles featured in. Condotel financing is back. Miami CONDOTEL Financing. We offer 3/1 ARM, 5/1 ARM, and 7/1 ARM Condo Hotel Mortgage Loan Programs, amortized over 30 years. Borrowers can also email us at gcho@gustancho. You have found the original full service, discount real estate brokerage, 1 Percent Lists, who is licensed in Louisiana and still owned and operated by. On a case by case scenario, even if the rental income is claimed on the schedule E, the property can be classified as a second home. The Best CONDOTEL Financing. Get a quote Or, call 1-855-347-3939. North Myrtle Beach, SC 29582. This condo comes fully furnished and offers fantastic upgrades throughout. Toll Free: 1-888-667-1772. Unlike Our Competition, We Do Not Believe In Having Banker’s Hours. Mortgage rates for condos and other types of properties have been volatile in recent years. (3) "Listing agent" means a real estate licensee who represents. Many banks and mortgage bankers used to finance condotels prior to the collapse and many condotel unit owners still have condotel financing loans with big banks such as Wells Fargo, Chase, Citibank, Bank of America, and other local, regional, and national banks at high-interest rates. Owners use short-term rentals to generate income, listing them on platforms. The coastal south carolina city of myrtle beach is one of the top travel destinations in the nation. Up to. Condotels are typically multi-unit properties. Or email us at gcho@gustancho. There are also plenty of amenities and daily housekeeping. S. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ; Condotels at Surfmaster;Condo Listings for Rent. Here are some additional details about Ocean Blue Resort: The resort has 12 floors and 120 units. CONDOTEL. Condo-Tel financing is available. For a list of condo hotels in Miami and Miami Beach, please. $101,000. Home Spring Mortgage offers non-QM condotel loans with. Or email us at gcho@gustancho. Currently, the condotel purchase market in South Beach, Panama. Minimum Credit Score: 575. Orlando, FL – New Pre-Construction Condo Hotel. Step 1: Determine a Condo Project Review Type. 5 miles from Condotels Golf Colony Resort. Zip Code. 0. Featured. St. Our mortgage lenders will gladly review your unique situation and find a flexible solution that best fits your lifestyle. FHA loan limits in many parts of California is $679,650. CONDO RESOURCES. A condotel is a. One such specialized space is condotel financing, which involves mortgage loan arrangements for purchasing condominium units operated as hotels. A: I do not support the development of the 21-story condotel. Pet-friendly Rentals. • Cash-out is allowed up to $3,000,000 with no seasoning required. The minimum loan size for both condotel and non-warrantable financing is $100,000. By Alison Gregor. The HOA will have to have hurricane (also known in SC as wind & hail), traditional hazard (fire usually), and flood insurances. Spartanburg, South Carolina 27 contributions 12 helpful votes. Get the latest updates on our loan solutions, webinars, tradeshows, events, and. Enjoy all the. 00. About Us. Get your loan solution in 30 minutes! Choose a program, calculate, or get your personal offer! Programs Loan Calculator Scenario Request Condominiums, often. However, to be able to find a lender who offers you a loan for building a condotel, you need expert supervision from Commercial Real Estate Loan Pros of Key West. com. Minimum Down Payment: 30%. We are available 7 days a week: evenings, weekends, holidays as well. $379,500. (843) 628-3604. 25% down payment, 75% loan to value, is required for primary and second condotel unit buyers. 2023. Owning a condotel is popular in Myrtle Beach, SC due to them offering unique services that you do not receive when purchasing a condo. VA Loans. Sun everyday, beautiful Condo North 702. Comparing terms and consulting with financial experts can help you choose the best option. Show all. Some lenders may go as low as $55,000. Get the scoop on the 1474 condos for sale in Myrtle Beach, SC. Condos for Sale: Condos for Sale • Little River Condos • Myrtle Beach Condos • Mt Pleasant Condos • Isle of Palms Condos • Wild. Elevated mortgage rates continue to make. Up to 75% LTV on bridge loan loan amounts between $1,000,000 to $1,500,000. Get ongoing access to funds with a home equity line of credit by itself or combined with a first mortgage. A 2 bedroom angle oceanfront apartment can be about $185,000 to $225,000. Type Full Name Below: *. Condotel Financing Program Features Offering conventional and portfolio loan options Available for second home and investment properties Team of condotel specialists that. The manufactured home financing requirements need to be built on a solid concrete foundation. 1,000 Sq Ft. Indeed, when looking to rent in Myrtle Beach, SC, you can expect to pay as little as $560. Wow! I did. 5 million as a primary or second home. Cash-out refinance mortgage loans on a manufactured home requires a loan to value. IN the new home financing landscape created in this recession, certain categories of high-rise development are apparently. Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major. More Details. 3910 Highway 17 South. 1. This ground level 2-bedroom condo is located in the popular Seagate Village. Condotels are typically high-rise buildings which are developed and operated as a luxury hotel and are usually found in major resorts and cities. To qualify for condominium mortgage loans, please contact us at Gustan Cho Associates Mortgage Group at 800-900-8569 or text us for a faster response. The difference in financing condominiums compared to single family homes is that lenders have to get the property approved in addition to merely approving the borrower. The loan to value is 97. Condotels give you all the comfort of owning. $194,500 and up - Condo Hotel. The condotel unit needs to be at least 500 square feet. (866) 803-2853. is an equal housing lender. Navigating financing challenges in condotel investments requires creativity, diligence, and a thorough understanding of the market. If you are interested in a condotel purchase loan or a condotel refinance mortgage loan please contact us at Non-QM Mortgage Brokers at 800-900-8569 or text us for a faster response. Investing in a condotel property can be an excellent opportunity for individuals seeking a lucrative. Condotels at One Ocean Place, Garden City Beach: See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place, ranked #2 of 10 specialty lodging in Garden City Beach and rated 4 of 5 at Tripadvisor. We consider loan-to-value ratios of up to 65%. The Gustan Cho Team has NON-QM Loans for self-employed borrowers. There are, however, a few external. . Fidelity Home Group offers mortgages for warrantable, non-warrantable and condotel property types. At least 50% owner-occupancy. Warrantable condos are one that a homebuyer can finance using a conventional mortgage, after having been approved under a set of guidelines set by government-sponsored enterprises Fannie Mae and Freddie Mac. Here are the highlights of our Condotel program: Borrowers must have a minimum credit score of 680. It is rare for banks and residential lenders to have the ability to offer this type of financing. Subscribe now. North Myrtle Beach, SC 29582. Since DSCR equals income divided by payment ($1,500/$1,000=1. The team at Gustan Cho Associates are specialists in condotel financing in Florida and California as well. com. Less than 10 units, up to two FHA-Insured units. 2318867 MLS. These could have serious impacts on getting loans in South Carolina, especially in coastal beach towns like Myrtle Beach where highrise oceanfront condos are so integral to their economy. Tel: 844-953-0100 Email: info@nationwidemtg. North Myrtle Beach Branch. United States South Carolina Coastal South Carolina Garden City Beach. Assessing Risks and Returns in Condotel Investments. Generally speaking, only lenders with in-house programs designed for condotels can finance condotels. com so that we can make sure your policy is always working for you! Wondering if you need condo insurance in Myrtle Beach? Here's everything you need to know about this type of coverage, what it covers and how much it costs. Mortgage Bankers hours 8am-5pm (PT) Airbnb/VRBO Financing. Brokered by Dunes Real Estate. Full kitchen (kitchenettes are not allowed) Minimum loan size is $100,000 and the maximum loan size is $3 million. Top 10 Most Affordable Cities in South Carolina Jul 24, 2023 6. Visit Learn About Project Standards to see all Project. Monthly listing updates and/or real-time notifications for listings, sales and market data Up-to-Date Local Lenders for conventional and condotel financing Yearly Closed Sales Price Histories for over 180 condo resorts (since 2009) Best team (Beach Pro Reviews) with the best company (RE/MAX Southern Shores). Jerry Pinkas Real Estate Experts. If you think that condotel ownership may be for you, we can help you apply for competitive condotel financing in Miami or the surrounding region. Our experts can help you with the premier mortgage. When we met with a realtor, January 2021 he stated we could have 6-12k Condotel purchase on the beach - Myrtle Beach (Pawleys Island: short sale, oceanfront) - Myrtle Beach - Conway area - South Carolina (SC) -Horry County - City-Data ForumFHA Florida Condo Loan Spot Approval Requirements. CONDOTEL. 207 28th Ave N #25, North Myrtle Beach, SC 29582. One thing to consider when buying a condotel, is that you will most likely need to pay cash. At times in 2022 and 2023. If you need a Condo Hotel purchase mortgage loan or a Condo Hotel refinance mortgage loan, please contact us at Gustan Cho Associates at 1-800-900-8569. What benefits do I get if I invest in a condotel? Quarterly dividends. " Meaning they are a condo that is in what they consider a hotel. Our Mortgage Experts. More than one person may own apartment. Loan Amount up to $5,000,000; Purchase Up to 70% LTV; Cash Out Up to 65% LTV. The team at GCA Mortgage Group are experts in helping borrowers finance non-QM loans. The loan to value is 97. Top Rated. Nationwide Mortgage & Realty, LLC. Condotel is a mixed term that combines “condominium” and “hotel. com. com. Projects that have no other condotel characteristics, but which permit unit owners to offer short-term rentals on a seasonal basis while they reside in the units. How it works: LendSure’s Bridge Financing Program pays off the existing lien while providing the cash out needed for down payment on the new home. Restaurants near Condotels at One Ocean Place, Garden City Beach on Tripadvisor: Find traveler reviews and candid photos of dining near Condotels at One Ocean Place in Garden City Beach, South Carolina. Low-Down-Payment loans : FHA. ARM and 30 Year-Fixed Options available. Auto Loans. Portfolio Financing for Condos and Condotels. It is similar to a hotel in that many times the building actually looks like a hotel, but each individual unit is. Homes For Sale By Owner In South Carolina4487 Results Available. You can email us at gcho@gustancho. South Carolina gives tax breaks to certain people, but only as primary residents. Title Options: Hold Title as an individual, in a trust, or an LLC. We also provide first-rate, friendly service for every member. In the example used above, the property brings in $1,500 monthly with a monthly payment of $1,000. The largest property for sale is 3,174 sqft and smallest 307 sqft. New Changes To Condo Lending as of Dec 7th, 2020. Find the best offers for your search owner financing myrtle beach. At Fidelity Home Group, we are Condotel Financing Florida mortgage experts! The Condotel also known as the Condo Hotel is quickly becoming popular in Florida as an investment opportunity. SOUTH CAROLINA CONDOS. Condo for Sale in Myrtle Beach, SC: Nestled in the heart of Carolina Forest, this charming 3 bedroom 2 bathroom condo offers the perfect blend of coastal living and modern comfort. Several financial pros come with retiring in South Carolina. Once received, we will review your credit profile. – LendSure will calculate the income for you and provide an extensive, common-sense pre-qual within 24 hours. “Below is a list of all of the buildings and condos that I have closed loans in recently that I know are already approved as true condos and meet all the. Condotels are condominium projects, which are individually owned and operated as a hotel. Safe area of Garden City , yet close enough for a quick drive to anything you could need or want. Home buyers interested in purchasing a condotel unit or non-warrantable condominium in Florida, please contact me at 800-900-8569 or text us for faster response. 2 Beds. S. The units are […] Project Standards Requirements - Condotels. 4 bds. Make sure that the management and. Condotel Unit buyers interested in getting qualified for Condotel Financing, please contact Gustan Cho Associates at 800-900-8569 or text us for a faster response. We. Investing in a condotel property can be an excellent opportunity for individuals seeking a lucrative real estate venture, especially in a popular tourist destination like Myrtle Beach, South Carolina. The manufactured home financing requirements need to be built on a solid concrete foundation. Condotel Financing Mortgage Guidelines And RequirementsFinancing options for condotel investment include bank loans, developer financing, and cash payments. The condo can even be 5 miles from the “check-in desk”. Condotels at Coldstream Cove: This is an adult residential neighborhood with a few rental properties that are not welcomed. Individual owners have units, but they have. )We can be contacted several ways to help answer any questions you may have: Call us at toll free at 888 259 2257. Learn what factors lenders consider in underwriting a loan on a condo hotel unit. Pawleys Island,. Also, if you’re a real estate. A short term loan used to finance the construction of your dream home that once built you can refinance. What is a Condotel? A condotel (also known as a hotel condo) is a residence unit that is legally classified as a condominium but is located inside a hotel and operated in the same way. This FAQ document provides responses to common questions related to Fannie Mae’s project review methods and policies for determining project eligibility for mortgages secured by units in condo, co-op, and planned unit development (PUD) projects. It is considered real estate. Condotel Units, also known as Condo-Hotel, have been very popular from the mid-1990s until 2008, when the real estate and financial markets. Condominiums are usually divided. APPLY NOW. Any apartment may be held and owned by more than one person as tenants in common or in any other real estate tenancy relationship recognized under the laws of this State. 8999. COMMERCIAL. State. North Myrtle Beach, SC 29582. Up to 103 LPC Non-Owner Occupied. First Home Equity Loans is a resource for many different loan types for investors, including Condotel Financing. CONDOTEL FINANCING No State Limitations $100,000 - $1,250,000 Loan amount depending on the program Starting at 680 FICO 70% CLTV Purchase, Rate-Term 65% CLTV Cash-Out Highlights:Book Condotels at One Ocean Place, Garden City Beach on Tripadvisor: See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place, ranked #2 of 10 specialty lodging in Garden City Beach and rated 4 of 5 at Tripadvisor. 9% over the past year, and are expected to rise another 7. Destin Florida Condo Financing. Conducting due diligence on lenders and maintaining open lines. What Are the Mortgage Guidelines And Requirements For Condotel Financing? Capital Lending Network, Inc. If you have any questions about the content in this article or need to qualify for an FHA loan in South Carolina, please contact us at 800-900-8569 or email us at gcho@gustancho. A 40% down payment is required for borrowers who have two or greater properties and need it as an investment home. Full Doc, Alt Doc and DSCR. As you look set to take on Condotel investment, it is important for you to consider your investment partner in all this. Dec. Find the perfect building to live in by filtering to your preferences. Caravelle is an Oceanfront Condo Complex in Myrtle Beach, SC. com®. Each condotel is a part of a large-scale property that operates similar to a hotel, with a wide range of amenities and resort-style features. 29577, Myrtle Beach, Horry County, SC. Call ☎ (800) 697-4371Condotels at One Ocean Place: Beautiful Place ! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Answer 1 of 3: Business travelers, looking for recommendations for good hotel or condotel for extended stay for worker in Columbia, SC near BCBS / I-20 for 1 to 3 months stay, perhaps longer. More Details. We can finance condotels in Florida, Alabama, Georgia, North Carolina and South Carolina. - See traveler reviews, candid photos, and great deals for Condotels at Coldstream Cove at Tripadvisor. There are no in-state. We also offer our Condo/Condotel Lender List and Closed Sales Histories (Details for every sale since 2009 for over 180 resorts). When this occurs, we can offer. Condotels at One Ocean Place: gorgeous penthouse - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Officials acknowledged their vote was tied to a $100 million “condotel” project proposed along 30th Ave. Fast Closing and Flexible Underwriting. Visit hotel website. Fidelity Home Group offers mortgages for warrantable, non-warrantable and condotel property types. A condotel operates just like a hotel and hosts short-term guests. Typically, these condotel buildings offer amenities such as a check-in desk, on-site cleaning services, water parks, and more, while individual units are separately owned. Condotels at One Ocean Place: VERY Disappointed - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. 3 bed. General Provisions. Is This Your Tripadvisor. Program Details for Condotel Financing. It offers short-term rentals for occupants, and it also maintains a front desk. Owner Financing available for qualified buyers. 1025 Highway 17 South. 1 bedrooms. The good news is that finding an affordable and desirable property to rent in Myrtle Beach, SC -- whether it’s. THE OCEAN FOREST COMPANY. The average sq ft home size of South Carolina Beachfront Condos & Villas For Sale Myrtle Beach SC is 956 square feet. 4 bds; 3 ba; 1,633 sqft - Condo for sale. Condotels at One Ocean Place: 3 bedroom condos oceanfront - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Navigating financing challenges in condotel investments requires creativity, diligence, and a thorough understanding of the market. Financing a condotel is different from financing a condominium, so it is important to work with a mortgage company that is experienced with condotel loans. Golf colony resort 5p.