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Updated over 6 years ago on . Most recent reply

User Stats

12
Posts
10
Votes
Brandon Cormier
  • Rental Property Investor
  • Clinton, MA
10
Votes |
12
Posts

Personal finance advice before getting into my first RE deal

Brandon Cormier
  • Rental Property Investor
  • Clinton, MA
Posted
So I know there are many Dave Ramsey fans in here, and I am currently using the debt snowball to attack my debt and since august I have been able to take out 17/33k debt. After my next credit card of 5.5k, I will have 9k in school loans with a 14 dollar minimum monthly payment @3% interest. My plan was to get into a house hack to cut down on my rental expenses before going deep into real esate. Should I tackle my debt to zero first? Or should I use that 10k towards a down payment on my rental to get myself into real estate maybe 4 months sooner, then pay down my final debt?
  • Brandon Cormier

Most Popular Reply

User Stats

12
Posts
10
Votes
Brandon Cormier
  • Rental Property Investor
  • Clinton, MA
10
Votes |
12
Posts
Brandon Cormier
  • Rental Property Investor
  • Clinton, MA
Replied
@Richard Sherman I know as a fact I can avoid consumer debt. I used to have 700+ debt Bill's every month and knocked it down to 230 so far. I'm going to use my debt paying habits as a saving habit going forward. It also helps that I am an expert auto technician so I dont need to go out and buy a new car, I drive a $1000 dollar 18 year old Honda
  • Brandon Cormier

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