Looking for ways to get out of huge debt, using real estate.

[Ralph E.]

I have lots of debt from student loan, credit cards, etc. Trying not to let it stress me out. 

Went against my credit building knowledge last year (all mortgage FICO scores were close, or over 700 at the time), and took out some personal loans, which I invested in things not related to real estate. (Side note: Almost bought two homes for one price in 2017 through FHA loan, thanks to information learned from Rich Weese's book "From Janitor to Multi-Millionaire.)

Living paycheck to paycheck, trying to snowball my credit card debt.

What have you done to get out of debt, or any real estate strategy to help get you out of the hole?

This is a question that might be for people who've been in my situation, but I'm sure there is knowledge from all over BP. 

Thanks in advance!

P.S. I hope I have posted this in an appropriate category.

[Anthony Wick]

@Ralph E.

Always always always pay off credit card debt before you start thinking about step 2. Get a second job, work OT, do whatever you can. It’s like losing weight. You didn’t gain that weight/debt in a months time most likely, so it will take time to get back to even. Be diligent.

After that, I look towards house hacking a 2-4 plex with an fha loan. I’m ok with some debt (student loans, cheaper used car if need be, and mortgage of course). But it cannot be high interest debt, and you cannot spend any unnecessary money until credit cards are 100% paid off and you have that 3.5% down payment for house hack.

Vacations? Dinners out? Drinks with friends? Ditch those thoughts if you’re serious about this. You’ve had the fun already, It’s time to get serious now.