Alternative financing for second homes

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Many second-home owners -- especially those in the full-time vacation rental business -- are looking to purchase another property but are facing stringent financing guidelines. The same challenges, even with historically low interest rates, are plaguing first-time investors seeking to get started. HomeAway, the online vacation rentals company, recently hosted a second-home owners' summit featuring sessions on marketing, scheduling, screening and property management, also offered sessions on alternative financing. The company is an online vacation rental site that hosts an inventory of about 520,000 vacation rentals in 120 countries.Christine Karpinski, the author of "How to Rent Vacation Properties by Owner and Profit From Your Vacation Home Dream," hosted several sessions and offered financing observations: Yes, it's cheaper to borrow ... but it's also much tougher. The easy-money days are over. In fact, you probably already know that loans are not easy to get in...