Off Topic
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago, 04/14/2021
Newbie Seeking RE Investment Advise
Hello, I am planning on buying my very first home. I currently live in Los Angeles and I am looking to buy my first rental property.
I currently gross $85,000 a year but owe $56,000 on student loans. I've been aggressively paying my loans and was able to pay off $30,000 last year.
My monthly expenses are ~$2,000/month
My questions are:
(1) do I continue to aggressively pay off federal student loans, I currently stopped paying in case the new administration assists with loan forgiveness. And have been saving my money.
(2) do I save my money for a 20% down on a home probably by end of this year?
Since it's too expensive to buy in LA county I’ve been looking to buy in these areas
- San Bernandino
- Bakersfield
What would you advise? Also, seeking advice on locations where I can find more affordable properties that will cash flow.