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Updated almost 9 years ago on . Most recent reply

Account Closed
  • Providence , RI
2
Votes |
28
Posts

Buying property with student loans

Account Closed
  • Providence , RI
Posted

Hi, guys 

I'm a senior at my university graduating in December. Unfortunately, ill be graduating with a fair amount of student loans. I'm sure there are people here who are currently paying off student loans while investing at the same time. Id love to hear from you guys.

Did you wait to pay off your loans entirely? Did you buy your first property before you graduated? How did you manage paying off your loans while acquiring property at the same time?

Thank you

Side Note: I plan to invest in rental properties. 

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Obviously you want to be free of bad debt as it will encumber your ability to borrow more money.  First you need the income and the savings so it really boils down to how fast you can remove your bad debt before saving to get into good debt.

You can start investing carrying bad debt but at your age it is not a good idea. When things go sideways and they always do at some point you do not want the added burden of bad debt holding you down.

Life is not a race, there is no rush so take it easy and get established in a good paying job as step 1.

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