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Updated 5 months ago on . Most recent reply

User Stats

12
Posts
19
Votes
William Johnny
  • New to Real Estate
  • Delaware County, PA
19
Votes |
12
Posts

Pay off debt first or invest first

William Johnny
  • New to Real Estate
  • Delaware County, PA
Posted

I'm 22 and have a 16k balance im tuition that i need to pay. I'm currently paying 250-500 a month because that's what I can afford right now. I want to invest in real estate by using the BRRRR method. The thing is I want to invest in real estate because it could help me pay off the tuition faster but it'll slow down my wealth growth. On the flip side if I focus on paying the tuition off first I may miss a potential opportunity that could jumpstart my investment portfolio but at least I won't have that debt to worry about starting my journey off. I need some advice on which choice makes the most sense starting off?

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User Stats

11
Posts
17
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Replied

@William Johnny

Pay off the debt first!

You are young and have plenty of time and opportunities coming your way, just continueyour education.

I see some people posting on here with credit card debt wanting to invest, which doesn't make sense to me, the best investment for them is paying off their credit card debt and they instantly make 20+% from not paying the interest.

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