Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago on . Most recent reply

User Stats

7
Posts
1
Votes
David Buell
  • Reno, NV
1
Votes |
7
Posts

What would you do in my shoes??? 14000 in debt.

David Buell
  • Reno, NV
Posted

I currently have been working as much as I can and am paying off 14,000 of credit cards. Dumb decisions but that is the situation. I am 26. Making just about 32000 a year. 

Would you pay off all debt before investing? 

Pay of some and invest? 

Invest right away? 

would love to hear your thoughts. 

David 

Most Popular Reply

User Stats

87
Posts
55
Votes
Jim Y.
  • Real Estate Investor
  • Tacoma, WA
55
Votes |
87
Posts
Jim Y.
  • Real Estate Investor
  • Tacoma, WA
Replied

David, congratulations on awakening to the slavery of bad debt. Spend some time here, read books, find a guy named Del Walmsley and listen to his podcasts. All these things are free.

Educate yourself on the correct course of action for you. This won't happen overnight, but also shouldn't take years either. If you pursue wisdom, it will change your mindset and entire world.

Having said that, I suggest you focus all possible income to pay off bad debt. Having zero bad debt will allow you to acquire good debt, which will itself produce value and income.

Loading replies...