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Updated over 5 years ago,

User Stats

13
Posts
6
Votes
Morgan McConnell
  • Flipper/Rehabber
  • Locust Grove, VA
6
Votes |
13
Posts

Looking for some advice

Morgan McConnell
  • Flipper/Rehabber
  • Locust Grove, VA
Posted

Hey guys. I'm looking for some advice. I have been reading about real estate investing for the past ~6 months and I really want to jump in within the next year. My wife and I currently have about 60k debt (mostly car notes and some credit cards, not including our primary home) and not much saved (we've been aggressively paying it off). I'm expecting a 20-25k bonus later this year and I would like to use that to get into flipping to pay off our debt and then build up some capital so that I can get into doing BRRR's. My wife is totally against investing the money and thinks we should pay off all of our debt (minus the house) before investing. I think that through flipping, I'll be able to get us out of debt fast and achieve financial independence a lot sooner. Do you guys have any advice on how to put her mind at ease? Or I should I go with her advice and get out of debt first?

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