REI Rookie burdened with student loan debt

[Jordan Powell]

Hello BP family, 

After completing a successful live-in flip in Fairbanks, Alaska, I have decided to take my talents to Atlanta (promotion at the W-2. Little do they know I plan to get out of there as soon as possible through Real Estate). The plan is to find a multi-family or SFH with a furnished basement or In-law suite and house hack for a year, rent that one out, move on to the next one, and so on until I am financially free.

I am pretty much doing this on my own. However, I know being surrounded by like-minded individuals does wonders for achieving goals. So, I just wanted to reach out and connect with anyone interested in the Atlanta area. I have already joined the REI Meetup and Facebook group, so I hope to meet some of you in person.

One question I do have is regarding student loans. I decided to get a law degree (silly me), and after working as a public defender for six months, I realized that being an attorney was not the job for me. I pivoted and now work in other "legal" areas that actually pay better than a public defender. However, I am now saddled with 175k in student loans. Luckily, I work for the government, so this debt should be forgiven after six more years if I have to keep my W-2 that long for some reason. I refuse to believe that debt would prevent me from investing in real estate, but it does limit what banks are willing to loan me. Not sure if it is relevant, but I have a pretty good wage and an excellent credit score.

Does any have any advice on how to get navigate this issue? My research suggests that hard money loans may be my best option, but I wanted to see what the BP hive mind has to say.  

I look forward to seeing everyone achieving their REI GOALS!

 Jordan

[Jordan Powell]

Quote from @Michael Dumler:

@Jordan Powell, if the goal is to house hack then hard money and DSCR are not an option. These types of lenders will not close on an owner-occupied property. How long have you been working out of school and with your W2? Depending on your DTI, you may or may not need to sell your property in Alaska. The best suggestion I can give you is to consult with a lender. If you're interested, I can connect you with several local ATL lenders to help out with your situation. When do you officially plan to move here? If you have any real estate-related or ATL market-specific questions feel free to reach me via cell or email (contact info is listed in my bio).

@Michael Dumler I have been working at my W-2 for 5 years now. Sorry, if my original post was not clear, but I already sold my house in Alaska. Lived in a fixer upper, sold it for a decent profit (30k). 

I am currently in Atlanta. Living in cheap studio that allows me to break my lease at any time for a decent price. 

I would love to speak with some lenders here in ATL that could help me out. 

Truly appreciate the response.