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Updated over 3 years ago, 08/30/2021
Commercial equity line of credit to finance first Airbnb?
I am the owner of a seasonal ice cram store. My Business, lot and building have now been paid off for a year(bought on 10 year land contract). I am also a real estate agent. I have long had a dream/plan of buying a few Airbnb in locations that I want to be a "snowbird" in. My plan has always been to start in the Savannah, Georgia area. I have an appointment to speak with a lender about doing an equity line of credit against my ice cream store to finance the down payment of my first Airbnb as I don't want to tap into savings. Is this a smart move? Want advice can you all offer?