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Updated over 4 years ago,

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1
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Richard Jimenez
  • Raleigh, NC
0
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Clear debt or first investment?

Richard Jimenez
  • Raleigh, NC
Posted

Hello BP community! 

Just recently learned of BP from a close friend. I was discussing with him my current situation and he recommended I reach out to the community for some guidance. 

I graduated from college in May of 2019. I immediately moved back home for the first 12 months out of school to get myself financially stable (typical story here). In doing so, I've accumulated $30K in savings, and my student loan debt totals ~$27K. My student loans are all federal with varying interests rates of 3-5% on each individual loan. 

I was lucky enough that my university taught an intro to real estate investing course that I took my junior year which peaked my interest. I frequently watch a lot of the folks on YouTube who are popular in the real estate investment space; however, I feel a lot of the time these guys are more selling the dream for views rather than giving solid advice (no disrespect to any of them, just how I feel). I'm interested in the space as I have an understanding of how real estate as an asset performs over the long-term, and how it is an amazing vehicle if one is interested in accumulating wealth while capitalizing on cashflows. 

Now that the backstory is out of the way, I have been tossing the idea around in my head for about two months now of whether or not I should use the money I've accumulated to rid myself of my student loan debt, OR, use this money as a down payment on my first investment property. 

BP community, can you please provide me with guidance for my current situation? 

Thank you all so much in advance. 


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