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Updated over 5 years ago on . Most recent reply

User Stats

11
Posts
5
Votes
Andrew Craft
  • Specialist
  • Cleveland, OH
5
Votes |
11
Posts

Noob: Continue Paying over $3,500 in Student Loans... Or Invest?

Andrew Craft
  • Specialist
  • Cleveland, OH
Posted

So, I took out $143k in student loans. I graduated in May of 2017 and started paying in August of 2017. I have officially paid of $110,000 and have about $34k left! I'm currently paying $3,500 per month with hopes of finishing in May 2020!!!

I would love to hear some opinions on debt..

Should I pay off my debt before trying to get into real estate? Or should I try to split it or pay a portion of my income to a savings or just go ahead and start buying. My credit score is an 809,. My plan is not to live where I live currently in 1-2 years, and prices seem to be outrageous right now. Of course there are always deals, and you can still make money on "expensive stuff.

Just want some opinions on the topic. I'm feeling FOMO as well as a belief that I will be in better shape if I just wait and pay my due until May.

Most Popular Reply

User Stats

532
Posts
466
Votes
Craig Jeppesen
  • Rental Property Investor
  • Chubbuck, ID
466
Votes |
532
Posts
Craig Jeppesen
  • Rental Property Investor
  • Chubbuck, ID
Replied

You are so close and on a role so I would keep paying the loans. You will be investing in no time.

You will have so many more investing opportunities in the future if you have no to little consumer debt. You can save more for down payments, buy larger projects like apartments with less overhead and it will be way easier to get the best and cheapest financing.

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