Winnipesaukee Forum - View Single Post - Turning my childhood home on the lake into a rental property

Descant · 03-23-2026, 11:28 AM

Juiuced06GTO
If there is no mortgage or small, you could take our a HELOC, use some of the funds to do repairs and some for cash flow, at least until your Aunt and Uncle are done. Maybe at that point your sister will be able to participate more fully? It seems like market values continue to increase, so the repairs will likely add more to value than the actual cost.

I know of one case where the camp was sold, but with delayed possession. The buyer used it for two weeks every year and the seller stayed in place the rest of the season. After a set time, the buyer moved in and the seller was allowed some limited use.
Anybody out there use a reverse mortgage in a case like this?

03-23-2026, 11:28 AM	#45
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,591 Thanks: 1,414 Thanked 1,703 Times in 1,107 Posts	Juiuced06GTO If there is no mortgage or small, you could take our a HELOC, use some of the funds to do repairs and some for cash flow, at least until your Aunt and Uncle are done. Maybe at that point your sister will be able to participate more fully? It seems like market values continue to increase, so the repairs will likely add more to value than the actual cost. I know of one case where the camp was sold, but with delayed possession. The buyer used it for two weeks every year and the seller stayed in place the rest of the season. After a set time, the buyer moved in and the seller was allowed some limited use. Anybody out there use a reverse mortgage in a case like this?