Student loans OR Four-Plex? (Dave Ramsey or BP?)
Hi everyone!
So My fiance and I bought a SFH in an A class neighborhood with a VA loan and little down last year when the market was "hot". Needless to say, almost immediately we realized what just happened.
We then read RDPD and the BP recommended books. Additionally, we often listen to Dave Ramsey. While we are not eating on beans and rice now, we are curious what people's thoughts are on "Starting Out" while having student debt.
We currently have a plan in place that we are following to get out of SFH and into four-plex to house hack then do our debt snowball.
Would love to hear if anyone else had similar stories or their PO.
Mike
Most Popular Reply
@Michael Hanks I have read Dave Ramsey's book, and a lot of my friends have gone through the financial peace program. It is a good program for those who are really bad at managing money or who are sunk in debt. I personally wish that I had not wasted time paying off student debt. I could have easily paid off student debt at one of the refinances or sales of properties over the years, and it would have been way less work than scrimping and saving when my income was lower.
I would take the good parts of the Ramsey program (don't buy junk on credit, avoid new cars when you are starting out, etc) and focus on making very smart investments in real estate. You will eventually be able to pay off the debt by using income from properties, appreciation you capture through refinances or sales, etc.