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Updated about 6 years ago on .

User Stats

65
Posts
14
Votes
Darian Richardson
  • Flipper/Rehabber
  • Atlanta, Ga
14
Votes |
65
Posts

Paying Off Debt vs. Saving Towards Deals?

Darian Richardson
  • Flipper/Rehabber
  • Atlanta, Ga
Posted

Hello BP,

Two thing aspects that I have learned on the route to F.I.R.E is paying off debt and also building a portfolio filled with passive income investments, investing in real estate is the vehicle we predominately choose hear at Biggerpockets.

Between these choices I am trying to determine which would be the priority. Paying off the loans such as auto, credit cards, student loans, etc.  OR putting those extra funds towards saving up for your next deal?

Paying off all my credits cards and completely paying off my auto loan has definitely gave me mental momentum to stay on track and pay off my student loan which is my last loan left (excluding my property). At that same token, if I direct those funds in my opportunity fund that will be a greater down payment for my next deal on a quadplex? 

I'm curious to know, how others have prioritized on their road to freedom?