All Forum Posts by: Yuepheng Vang

Thank you @Steve Donovan, @Marc Kenyon, and @Mitch Kennedy! I have spoken with my lender about the process, and it would be very straight-forward with no fees required--essentially just a name change on the loan. I'm not sure about closing costs for seller/buyer. If there are any huge differences between the sale price and current loan amount, we may even consider some sort of seller financing, which we would have to do further research about as well. The buyers would then need very little cash to put down. 

Would it be better to simply push through and hold onto the property until two years have passed? We would just like to be as hands off as possible at this point and focus on other ventures.

My wife and I recently purchased a home on Lake Onalaska, WI, that we are currently renting out part-time with gross monthly income at about $2,800. It is currently our primary residence, and we stay at a second home when it is booked. We closed in November 2021 with 3% interest rate with an assumable loan. Our first baby is on the way, and we are considering selling our home (since we already have so little time to manage the property). How appealing would the loan terms be to a buyer assuming our loan now that interest rates are over 5%?

My wife and I recently purchased a home on Lake Onalaska in Brice Prairie, WI, that we are currently renting out part-time with gross monthly income at about $2,800. It is currently our primary residence, and we stay at a second home when it is booked. We closed in November 2021 with 3% interest rate with an assumable loan. Our first baby is on the way, and we are considering selling our home (since we already have so little time to manage the property). How appealing would the terms be to a buyer assuming our loan now that interest rates are over 5%?

@Sam Shueh Thank you Sam! I am glad you mentioned that investing as an extension. I should build a career first then build a portfolio.

@Brandon L. Thanks Brandon! Your blog posts have been very eye-opening. I believe my best next steps should be to acquire a related job as a property manager and continue to develop connections and build my knowledge.

@Adam Hoffer Thanks for the wisdom Adam! I often visit La Crosse and one of my professors is a property manager there. I will be sure to measure you when I am in the area.

@Mike Dorneman Thanks Mike! I will certainly get a job before investing now.

Hello Bigger Pockets members! I am not yet an investor, but I am in need of some wisdom before doing so. I will be graduating with my bachelor's in real estate property management within a year. I do not have a large savings and have a low risk tolerance. Should I get a full-time job to accumulate some funds before investing or should I look to creatively finance my deals? I am looking to invest in Wisconsin, since I am from La Crosse, WI. Thanks in advanced!