Updated about 3 years ago on . Most recent reply
Possible Short-Term Rental Opportunity
Need an opinion on what type of loan would be best for my situation and any advice you might have as I am 23F and only recently started looking into investment properties. I am currently looking at a house in the Lake George, NY area to use as a Short term rental/airbnb/vacation home but the house is completely gutted which after a bit of research I now know you cannot get a normal mortgage. What loan do you think would be best for this situation, think I could offer 150k and at minimum would probably need about 50k of renovations (some foundation work, electricity, plumbing, basically everything) I was looking into a 203k loan but was not sure if it's worth it or a stupid decision. Any advice is welcome. Thank you!