My next deal

[Treven May]

So I've closed on my first fourplex using FHA owner occupy and plan to refinance in the near future. Even with living in one unit I'm still making 250 a month on rent. So I still have 12k in student loans at 6.5 interest rate and I would like to get rid of this since it is my only debt. I recently have been given an offer to buy a condo for 125k and owner finance. Mortgage would be around 1100 and it rents for 1200 so it's barely paying for itself. There is also a fourplex on homepatth for 170k that needs some fixing up. The market in Alaska is very good and I wouldn't have any problems renting or sellin it quickly. It's assessed at 330 before foreclosure and I could get the rehab loan with it to fix it up. Should I focus on paying off student loans or should I take a risk and jump on one of these offers?

[Andrew Syrios]

Remember there will be costs associated with that condo outside the mortgage, so if the mortgage is only $100 less than the rent you should walk on that. And do your own comparison on the fourplex, the assessed value isn't very reliable.

As far as whether the pay off your student debt first, I think you have to ask how aggressive you want to be. Real estate investors need to be comfortable with debt, but there are different degrees of comfort. Do you want to invest aggressively to build a large portfolio or do you want to invest conservatively to build up your nest egg without as much risk. You want to stay consistent with your investing philosophy, so I would decide on that first and the rest should follow.