Young Navy Dentist looking to start investing

[Chase Gottschalk]

My wife and I are are two recent dental school graduates. My wife works in Brookfield and I work at the Naval Base at Great Lakes. Together we carry about $350,000 of student debt. Now that we finally have paychecks rolling in we are interested in real estate to maximize of investment potential to get out of debt sooner and develop a passive stream of income. 

Being in the Navy, I’m currently only guaranteed a year (maybe two) at Great Lakes.

We love the condo that we are currently renting on Prospect Ave and know our landlord is interested in selling. The plan would be to live in it (and possibly improve the place) until the Navy moves us. Then, we would rent the property. 

We understand there are drawbacks of purchasing condos especially just the one unit, but we’re hoping for some preliminary insight and guidance on our initial entry into the world of real estate investing. 

Thanks is advance for any and all insight!

[Andrew Hogan]

Chase, congrats on graduating! I would say to pay down the student debt using the cash flow you will receive from your investments. Once you are accredited investors (300k joint income for the past two years), you will have access to the best deals that provide the passive income you're desiring.