Central California (Fresno)

[Jonathan Rosario]

Hello!

I'm about to finish my residency in central California and will have a increase in my income. However, I still have a large amount of debt from my training to deal with and am looking for strategies regarding real estate. I've been renting for my whole life and feel it's time to put my money towards my own property but also trying to strike the balance between paying down my student loans.  Looking forward to learning more about real estate!

[Jon Finister]

Another member asked a very similar question to this. Everybody's situation is different, but it sounds like you want to get away from the student debt as quickly as possible. 

Using your extra income does sound like a good idea, but just for a second, imagine this. 

I am not entirely sure how much your loan payments are going to be, but hypothetically, what if you saved up enough to put a down payment on a piece of property using an FHA loan in order to take control of a duplex. If you do the math right and get a great deal, then the leverage from a small amount of capital, much smaller than your total school debt I'm sure, may be enough to take care of at least part of your school loan, and at the same time provide you with a roof over your head.

Have you ever heard of house hacking?