Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago on . Most recent reply
Newbie needing some advice
Hi everyone!
Completely new to the game here but really wanting to get started.
I’ve got about $8K in student loans, and another $8K in credit card debt, plus the mortgage on our house. So here’s my question...
Should I pay down that debt before I start working toward buying my first rental property?
Most Popular Reply
Nathan Gesner
Property Manager
Agent
Pro Member
- Real Estate Broker
- Cody, WY
- 41,256
- Votes |
- 28,168
- Posts
Yes, you should be debt free before you start investing.
I highly recommend you read, "Set For Life" by Scott Trench. It is full of solid, practical advice regarding finances. Your financial discipline is your investment foundation. It needs to be strong if you want to be successful.
- Nathan Gesner
The DIY Landlord Book
167 Reviews
4.7 stars