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Updated about 9 years ago, 12/23/2015
Selling home to clear student loan debt?
Hi all,
Just joined BP recently after a lot of lurking so hello! I bought my first SFH 3 bed 1 bath this past fall directly from the previous owner. I bought the house for $105k and many comparable homes in the area have gone for $120-135k the past 6 months. I have about $20k in student loan debt and have been throwing around the idea of putting it on the market in the spring in order to give me a clean slate financially speaking.
My goal is to freshly start over financially which should help give me some leverage for future investments (Not to mention saving the 6.8% interest on the student loans). I have no problem with finding another home for 60-80k that needs some TLC if I chose to sell. Eventually I would like to buy and flip a few SFH as I'm still young to build up cash and increase my volume. Has anyone gone this route when first starting out? Let's hear it!
Cheers