Newbie from SE Lousiana

[Travis Billings]

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

[John Walker]

@Travis Billings Welcome to BP from a fellow Louisiana member! My recommendation would be to focus on investing unless the debt is directly hindering you from starting such as credit or debt/income ratios with the lenders that you are dealing with. I wondered the same thing at first but the advantages of starting your investing outweighs waiting to start. 

1. Starting earlier means that you start the mortgage pay down sooner if you Buy and Hold and therefore your properties are paid off faster as you get older.

2. As everyone states, we can't count on appreciation but the sooner you invest the quicker that appreciation has the opportunity to start working. 

3. Extra cash flow from Buy & Hold or Flipping can be used to pay down debt anyway. 

4. You're buying assets! Always a good thing!

Just a few of my thoughts. I'm still on the newer side. I have one rental and I'm in contract for 3 more units at the moment. 

Good luck to you as you start your journey!