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Real Estate
Reply to "Tell me about owning a condo at the beach"
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[quote=Anonymous][quote=Anonymous]I own a beach condo the rental thing is only Fannie and Freddie mortgages issue. That said most banks and credit unions give mortgages my building but since not selling to Fannie or Freddie most want 25 percent down. I say 50 percent of sales are cash anyhow as only sell for $400k to $600k. One risk not discussed with be short term rental risk. Nearly all of NY banned rentals under 30 days. There is no guarantee weekly rentals will be allowed forever in where you buy [/quote] I don't see weekly rentals or daily rentals ever being banned in OC. Tourists support the county.[/quote]
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