Should I get a rental while in debt

[Brendon Seiffert]

Hey Guys

I was wondering if you’d be willing to answer a couple questions me and my wife have, about our finances and if we’re in a position to get into real estate.

We feel like we are, but we’ve been doing the Dave Ramsey method for a almost a year now, we’re scheduled to have no credit card debt by end of February 2019.

Our plan was then to move onto my school debt, which is $170 a month, with a balance of approximately $9,000 remaining. Then onto my wife’s care which is $207 a month and a balance of about $4,500. If we stuck with this plan we should have no debt by June 2019, maybe May.

after this we were planing on saving for a down payment and purchasing our first multi family property

We both work full time now and make about $106k before taxes.

But we’re really considering saving this money and using it for a down payment.

Just curious what your opinion on getting into rentals while still having debt would be.

Thanks

[Bob B.]

@Brendon Seiffert Congratulations on having a get out of debt plan. IMHO I'd keep hammering win the debt before buying an investment.