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Updated over 5 years ago,
Carry Personal debt while investing in RE?
I hope to get a lot of feedback from this post and I look forward to see what everyone thinks!
My portfolio currently consists of a duplex and in 3-4 days I will be closing on a single family home attempting to successfully perform my first BRRRR. With that being said I have been doubling down on the two personal loans that I currently have (student loans & auto loan). After I close on the single family home and complete the renovations would you guys recommend paying off my loans or continue to invest in real estate?
My loans are roughly $30K but what is keeping me from paying them off is I think my ROI in real estate will be more then the interest I would pay on my personal loans over the life of the loans. Is it smart to carry this amount of debt and to continue investing or should I pay them off and then get back in the game?
I would greatly appreciate any feedback on this.
Thanks in advance.