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Updated over 5 years ago on . Most recent reply

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4
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0
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Nik Stophel
  • Rental Property Investor
  • Winston Salem, NC
0
Votes |
4
Posts

Pay off student loans or start investing in real estate??

Nik Stophel
  • Rental Property Investor
  • Winston Salem, NC
Posted

Should I pay less $$$ towards paying off my student loans and put more into getting a deal ASAP? OR should I focus on eliminating as much debt as possible, leaving me with less opportunity for cash for investing??

I just turned 25 yesterday, I’m happily married with no kids, and my wife and I make fairly decent money together. I’ve been extremely interested in working to find my first deal, but I’m caught between a rock and a hard place right now.

Between the two of us, we have about 80K in student loans left to pay off. We are wanting to live small and decided to live on my salary and pay it off within 2-3 years with hers.

Now that I'm pretty hooked on REI and I see the major potential, I want to start now and grow my wealth through rental property investing and BRRRRing.

I see far more potential to make more $$$ through rest estate, so I want to start now, but I also know that means less towards debt. What advice do you guys have for people that want to invest in real estate while also having the responsibility of paying off student loans?

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