How much risk is too much risk?

[Shivam Patel]

Hey everyone,

I'm a relatively new investor but I have been listening to bigger pockets for a very very long time. I've had analysis paralysis as some would say. I want to be 100% transparent so I will use real numbers pertaining to my scenario. In the podcast we talk about risk but we dont talk about how much risk is too much risk and what are the best way to do deals. In my specific scenario I'm stuck and I want advice from you experts. I'm 28, and I am attending graduate program(masters) montclair state university for data science in nj where tuition for me is about $2100 per class. I plan on taking 3 classes semester and take the monthly payment plan which is 2100 a month for 3 months. But the rents around montclair are outrageous. I rather buy, and house hack and live for free. But mortgage for my house would be 2300. I can afford either the mortgage or the tuition. Not both unless I house hack. I have to buy a house by september(fall semester) which is less than 60 day closing and get renters in asap to cover costs. Am I too heavy on risk? My exit strategies were getting student loan for this semester until I get renters in, but I got denied. The other exit strategy was to take 1 semester off. I have to consider that finishing my masters my salary will jump 40k at the minimum. Now what do you think I should do because I dont want to miss the low interest rates.

Sincerely,

Shiv