Mastering the Market: Investing in Older Beach Condos in Orange Beach, Gulf Shores, and Perdido Key
Posted by Meredith Folger Amon on
Mastering the Market: Investing in Older Beach Condos in Orange Beach, Gulf Shores, and Perdido Key
Investing in an older beach condo can be an appealing option due to its character, potential cost savings, and often prime location. However, there are several complexities, particularly related to financing and insurance, that you need to navigate. Understanding these challenges can help you make a more informed decision and prepare accordingly.
1. **Financing Challenges with Freddie Mac and Fannie Mae**
One of the first hurdles when purchasing an older beach condo is securing financing. Condominiums, especially older units by the beach, often do not qualify for loans typically backed by Fannie Mae or Freddie Mac due to their stricter…
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