Want to invest but not in great financial situation

[Brent B.]

Just started getting interested in real estate investing and was curious about your guys' thoughts on next steps for me.

Here is my situation: Two of my friends are interested in partnering with me on a house hack in about 6 months. My worry about getting in now is that I have $21k in student loans, $14k in a car loan, $6k in a personal loan, and $6k in credit card debt (I was dumb with money in my earlier 20s) for a total of $47k in 'bad debt.' I'm currently 29 and make $100k annually from my job. I have minimal savings but could save some $ over the next 6 months for the down payment. Or borrow from my 401k as a last resort.

I guess my question is, do you think I have too much debt to get in the market at this point or is it better to just get in now? I have gotten better with managing my money, am no longer growing my bad debt load, and have already paid a significant amount of it off.

Thanks!