Save to invest, or get out of debt?

[Jack Arnold]

Hi Everyone,

I am currently saving with the mind frame of doing a flip to finance a buy and hold and pay off my debt and then continue on with flips and buy and holds after my debt is paid.

But..

In a recent personal finance audio book I have been listening to (The total money makeover) it is suggested that the first step is to get out of debt. I currently have approximately £12,000 ($18,421) in debt and will take me a while to get rid of this....i want to start investing now!!

Can someone please advise what they think would be the wisest thing to do?

Thanks 

[Nicole Pettis]

@Jack Arnold 

Being that I'm a big Dave Ramsey fan, in my opinion I would pay off your personal debt first, then invest. As you know he teaches you to focus on one thing at a time & just get your debts paid off. I know $18k seems like a lot, but it wouldn't be that difficult if you followed his strategy. 

Work two jobs, sell stuff. Do whatever it takes to pay off that debt as quickly as possible. And while doing all of this educate & learn your market. Get a plan together. Don't overwhelm yourself. But just get it done. You'll be glad you did:)