Creative funding for vacation properties in northern Ontario
Hello fellow Ontarians! New member here trying to get a project off the ground with a creative financing idea I'd like to get input on.
I'm looking at a property in northern Ontario to purchase as a vacation rental. I'm considering selling percentages of ownership as a way to help fund the initial capital needed to purchase and renovate the property. Does anyone have experience with a method like this? I see it along the lines of a partnership only with multiple partners each coming in with a small investment instead of one person with a big investment.
All input is greatly appreciated.