Massive student loans at 180K and I own a multifamily property

[Carrie Johnson]

Hi everyone,

I'm a big fan and followed a ton of the posts. 

Right now, I own a multifamily property bringing in 2K cash a month (if I don't live here)...Right now, I live for free and make a few hundred bucks a month.

I have 180K in student loans at 7% a month, so nearly 900 alone is just the interest. The kicker is that I work for a non profit organization, which is supposed to forgive my loans in 7 years. But, with the current administration, I don't think that program will last long. 

I could sell my place and pocket 250K before taxes and pay it all off like that. 

I have about 70K in savings for another duplex or triplex and some additional backing needed to start this again (but without all the lingering debt.

Any thoughts on hanging onto the property or just selling it and moving on? 

Having a ton of bad debt is not only stressful, but it makes it difficult even when you want to pull money out of your house to use towards a down payment on another rental. 

Thanks for your help!

Carrie

[Marcus Johnson]

I'm going to be honest here, but as a tax payer, I and the president don't want to pay for the school loans you signed a promissory note to pay back. Buck up and pay off your student loans. Waiting 7 years is a joke for those of us who want to become wealthy. Your broke and cannot afford a multi family. Sell it. Your not making anything on it that's even exciting at the least. Work hard like the rest of us and pay off your student loans. This me generation has to stop.