Use property to pay for student loan/car?

[Victor Bradford]

Hey guys! So I just sold my property, and my wife and I are planning on getting rid of all our debt and still have cash left over to invest. My question is, do you think I should just pay off the student loan/ car right away ($100k) OR use that money buy a foreclosure for $60k and rehab it no more than $40k, refi, use that money to pay off loans and rent out the property. The latter seems pretty obvious to me lol but I'd like some confirmation. What do you guys think?

[Tj M.]

@Sue K.

I have found that a lot credit score advice is not quite true. I have not had any consumer debt in many years. I only have 1 mortgage currently and use a credit card for only online purchases that I pay off in less than 30 days. My credit score is in the 800’s most the time. Being out of consumer debt would be my advice to the OP.