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Updated about 2 years ago on . Most recent reply
Financing and STR questions
I'm looking at a STR in Northern Michigan and looking for a realtor and financing help. Currently looking in Ludington area.
Currently have 2 residential multi’s in Chicago and looking for a second home / STR.
Would like to see what my financing options are for lower money down, 5 or 10%. And an experienced investor realtor. As well and knowledge of the STR regulations in the area.
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Drew Sygit
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Drew Sygit
#1 Managing Your Property Contributor
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- Royal Oak, MI
@Ross Stuart your best bet is to use FNMA type loan for 2nd home, which is usually only 10% down.
STR's are under a lot of pressure and new regulations in Traverse City area, so investigate before you buy.
- Drew Sygit
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