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Updated almost 8 years ago, 02/08/2017
Pay off personal debt before jumping into REI?
Hello BP!!
This is my first post. I've become interested in real estate after talking with a friend about how to get more cash flow. I've been reading many posts and listening to podcasts daily on BP. My goal is to work no more than 40 hours/week at my normal job and still be able to provide for my young family. My normal job brings in $58K. My wife does not work and we have a good amount of "stupid" debt (credit cards/hospital bills/student loans) and not very much in savings and fair credit. I'm an electrician by trade and a military veteran. I'm interested in buying and flipping and maybe even owning a couple rentals in the near future.
My main question is should I pay off my debt before looking into investing? Thanks in advance!
Travis