New member in Minnesota /Wisconsin are

[Cully Ekstrom]

Hi, new to the site and reading the huge amount of articles.

I’m in the research stage of possibly buying my first vacation property on a lake in northern Wisconsin. I’m interested in options on financing a second property as I don’t have that kind of cash liquid.

My main home is owned outright with the mortgage paid in full recently so I should have solid equity in it and I also have a couple of stocks that I could part with that are not in my retirement equation. Currently have a deferred compensation plan that I max out yearly and a government pension that I contribute to.

Current debt is one vehicle, so debt to income ratio should be great.

So——best financing option?

Sell stock, use equity in main home, apply for second mortgage?

I’m new to the “ I can actually afford to do something fun” game, but I want to be responsible with my actions to.

Happy to be apart of the forum

[Sevy Bialke]

@Jordan Moorhead

As a Minnesota (temporarily a Wisconsinite) I've subscribed to the cabin religion my whole life and my near-retirement parents are trying to understand how to afford their own to retire with (religion makes us do crazy things ;)

As near as I've been able to good naturedly guess, the cabin love is what you get when you mix the seemingly universal desire to travel with the home-body reserved demeanor of Midwesterners.

*not Midwest person*: "Last year I trophy fished off Cape Canaveral then backpacked for a few months. Do you enjoy travel?"

*Midwest person*: "You betcha I like to travel tuh, I got a place near Dulut' and we go fishin' year round up dere for wall-ees."