Living in a trailer to pay off student loans

[Mike Rubin]

Hello All -

I am at a crossroads and wanted to get your opinions…

My situation: I graduated 3 years ago with $65,000 in student loan debt and have since narrowed that down to $35,000. I'm sick and tired of paying student loans / living in debt. Never again will I take out a loan.

In order to pay off these loans the quickest, I've contemplated swallowing my pride, accepting the ridicule, and buying / renting a trailer so my monthly living expenses are minimal. Thusly, reducing my student loan debt very quickly.

For anyone who is experienced with trailers, would it make more sense for me to just buy one outright or rent one?

Any information is helpful.

Thanks!

[Account Closed]

Hello Mike, 

First I applaud your determination. If your comfortable with it I would say do it. Your friends (? real friendship) may ridicule you, but in the long run it will put you way ahead of your peers, and strengthen your financial and future base.

I would not rent the trailer, Lets make it a investment opportunity, Buy now then when your done sell it or do a lease option with it. Trailers are a easy way for folks to own a property. Will lease very easily for you. 

Just make sure where you buy is ok with this and your lot rent is not to costly. 

Good Luck 

and Keep up the excellent thinking.