Funding Options for a vacation/AirBnb property

[Chris Anderson]

Hi BP,

I have a primary residence in Massachusetts and am looking to pick up a second property in New Hampshire (White Mountains region). My original mortgage broker that assisted with my first property told me to do a personal loan for the vacation home. Are there any other options or would this be the best course of action. I would be looking for a fairly cheap place between 40k-100k that possibly needed some upgrading but no major rehabs.

Thanks,

Chris

[John McRae]

one thing in vacation rentals that is often overlooked is some of the additional expenses that will be incurred. Furnishings, cleaning charges, NHRooms and meals tax (they will track you down), cable and most importantly Wifi.  People have come to expect reliable wifi when traveling.  Those can add up quickly.