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Updated about 6 years ago,
Payoff Student loans with Flip Proceeds or reinvest profit?
Hey Everyone
I'm about done with my first flip property that I will be all in at $54k, ARV is 95-100k. I have 19 buy and hold units currently and my original plan for this flip was to BRRRR it and buy another flip or Multi-family. I've been thinking lately that maybe I should pause my real estate investing for a few months an roll all the profits from this flip directly against my student loans which would free up about $1000/mo personally. I know I'll have to pay capital gains on the profits vs doing a 1031 exchange into more property.
What would you do? My interest rates on the student loans are varying from 4-8% interest on about $55k remaining balance.