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Updated over 7 years ago on . Most recent reply

User Stats

23
Posts
5
Votes
Alvaro Zumaran
  • Ellicott City, MD
5
Votes |
23
Posts

New Maryland investor looking to start off on right foot

Alvaro Zumaran
  • Ellicott City, MD
Posted

I am currently about $40K in debt right now (school debt & credit cards). I have been told by a financial adviser (fiduciary) that I should at least cut this down to less than $5K before I consider any REI so that I can avoid putting on more debt and so that I can be on 'solid ground'

Is this advice agreed upon unanimously by the community?  I'm sure that there are at least a handful of members that were/are in the same boat as I am.  Aren't there deals that I can make with low (to no) money down where I can at least learn the ropes?  I am willing to get in the game and not make tons of money my first few deals if it means that I get to learn valuable lessons - instead of waiting 2 years to pay off debt.

Any and all advice would be deeply appreciated.  Thanks!

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