Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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 over 6 years ago,

User Stats

11
Posts
0
Votes
Nick Ritter
  • St. Paul, MN
0
Votes |
11
Posts

Student loan Pay off or another investment property? advise

Nick Ritter
  • St. Paul, MN
Posted

Hi BP,

Recently in January I closed on my first duplex with a 10% conventional loan and im currently living in the smaller unit cash flowing $150 per month after all expenses ! Fixing it up along the way here and there remodeled the bathrooms etc adding equity/ BRRR basically. Anyways my question is I have about $38,500 in student loans (government) I have been out of college for about 1.5 years now good job as an engineer been saving money living frugal driving a clunker car etc. Wondering if I should go ahead and use the $44,000 I have saved (if I cash out refinance it will pull out 19k of that total amount) and start looking for another investment property with an FHA loan or another 10% conventional to help increase cash flow. My loan payment is $190 a month for 30 years I believe, no car payments.

I'm leaning on growing the portfolio more, on the other hand it would be nice to get my loans out of the way and be stress free in that department  

which would you all do and why ? if anyone has been in this situation before your advise is greatly appreciated.

Loading replies...