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Updated over 5 years ago on . Most recent reply
Carry Personal debt while investing in RE?
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- Real Estate Broker
- 3412 S. Harlem Avenue Riverside, IL 60546
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@Kyle Root if there is one thing I would do differently in my life, it would be to skip paying of the $40,000 in loans my wife and I had when we were first married. It was 2010 and we had the opportunity to really buy discounted properties. Instead, we did the Dave Ramsey thing and paid off debt that was costing us very little.
Today I borrow money for things when it makes sense. I bought a new van for my wife and took out a .9% interest loan. I feel like I can probably do better on my most recent value add deal than I can paying all cash for something to save .9% interest...
Realistically, you want to grow your income and net worth as fast as possible. Make sure your debts are easily serviceable, but I wouldn't pay them off if I were in your shoes.