New to BP, new to REI, mid twenties with student debt..

[Joshua Frahm]

Hello everyone! I am brand new to BP and trying to get my REI career off the ground.

I have been educating myself on REI by reading books, listening and now I am part of BP. I am just out of college in the last few years with student debt of over 50K. I pay about $1000/ month, twice my minimum payment. I have a credit score over 730, pay all credit cards off in full each month and make a pretty good salary for mid twenties.

I am seeking some advice from fellow investors on best options to get started. I live in southern NH and as you may know this area is not the cheapest area to buy in. I am considering buying a multi-family to live in one unit and rent out the others. Any other recommendations to get started? I am a tad bit hesitant to take out a loan/mortgage to buy my first property with my student debt. Though, I do believe I have a very good handle on my personal finances and could manage.

Look forward all advice and comments. 

Feel free to message me directly as well.

Thank you!

[Al Bigonia]

Welcome Joshua,

Just my opinion, but if I was starting over and in your position I would pay the minimum on my Student loans. Unless things have changed they are usually low interest loans. I'd put that $6000 extra your sending them per year into down payments, and fix-up costs. If you can get a mortgage on a 2-4 family then you can get another property sooner that way. I know that's the boring, slow way to do REI, but your young.