Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
Paying Off Student Loans before REI
Hey Everyone,
I'm a 23 year old 1 year out of college and eager to get into REI but I'm wondering if now is the best time. I have about 12k in cash/investments but 20k in student loans and have only been working for a little shy of 1 year. I also plan on moving to Houston in several months where I plan to purchase my first property once I'm more familiar with the area. I did the math and found that even when paying off my loans aggressively it would take me at least 2 years. I really want to eventually do real estate full time and don't like the idea of postponing this a couple years. While I wait to move to Houston, should I try to get my loan amount down with what I save or should I save more towards buying my first property in about a year with 20-25k? Bonus question: I figure with my move to Houston, I could make a career switch to Real Estate to give me more knowledge and experience towards becoming a better investor. Is there other opportunities aside from real estate agent that provide good learning opportunities and/or a decent wage to save towards REI?