What would you do in this situation?

[Paul Farley]

I am not into real estate yet. I am still doing research. I am also a beginner in investing. I have some small investment accounts.

I have 30k in student loan debts, a car loan and mortgage.

If you had 40k to either invest or pay off debt, what would you do? I am leaning towards investing so that I can pay back my debt faster than I would otherwise and be able to increase my income. 

Though, with 40k I'm not sure what the best option for an investment (whether real estate or other types of investments). I just purchased a home so getting another loan is pretty much out of the picture right now. 

What would you do in my circumstance?

[Marc Winter]

Hang on.  This is kinda odd prioritizing, isn't it?  

For those that don't know me, here is a disclaimer:  The following is a real question, not a passive-agressive semi- sarcastic one:  Why would you have taken a 6 year loan on a (probably) $40k+ car which is nothing more than depreciating hunk of metal aka 'asset'?  My rough calculations--a $40k loan with 6-year amortization schedule and 5.75% is about $658 /month???  Plus insurance.  When your real estate cash flow is sufficient, you'll be able to get whatever car you want.  Maybe a couple, 2, 3.  ;-)

Suggestion:  pay off the 6% student loan with some of your cash.  Figure out a game plan to get out from under that car/car loan.  Excercise restraint in your outflow of capital.  Save as much as you can, but don't skimp on your real estate education.  

@Jason Hendrickson makes a good point.