Non warrantable condo - Vacation rental

[Steve R.]

Hi,

I am planning to buy a condo for vacation rental in Corpus Christi. This condo complex has more than 50% tenant occupied properties and hence its deemed non warrantable condo. The particular condo I am looking at has great beach views. There are quite a few airbnbs in that complex and find most of them occupied for 3/4th of the month. Seems to cash flow pretty good even after all overhead costs. Finding a lender is a bit tough, but i did find one locally. Rates are bit high, but fine.

Is there anything I need to know about buying a non warrantable condo? Will it be very difficult when time comes to sell this? Anyone who has experience buying and selling non warrantable condos, please help me out.

Thanks,

Steve

[Jorge Leon Jr]

Originally posted by @Green Hill:

Steve,

I have a condo listed in Rockport, Texas it is being rebuilt everything will be brand new. The vacation rentals in Rockport are great I also have a lender that will lend on the property. Let me know if you are interested. 

Send me the listing im from corpus would be interested

Im adding 2 airbnb’s at the moment a 3/1 and a 4/2

Next will be a condo

Till local municipality kicks us out sooner or later knowing my money hungry corpus christi officials