Where best to spend the money from the sell of my home.

[Michael Soukup]

So I recently just sold my home after a divorce. I plan on buying a condo that I will later rent out. I am wondering if I used some of the money I received from the sell to pay off my debt if that would be financially wise vs using it towards the purchase of my next place? I will be taking a residential loan from my TSP since by my calculations that would save me a lot of money on interest and give me good equity. Also that will give me a lower payment which will allow me to have bigger profit from rent. I know if I use all the money towards the purchase then I won't be paying any taxes. And advice is appreciated.

[Nathan Gesner]

Quote from @Michael Soukup:

Yes, I recommend you pay off all your debt first before investing in another property. You will have less to invest, but you will spend within your limits.

You must maintain control of your finances. If you can control what you currently have, you won't control your investments.