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Updated over 7 years ago on . Most recent reply

User Stats

31
Posts
7
Votes
Waylen Herdman
  • Franklin, TN
7
Votes |
31
Posts

Smarter to pay off student loan or house hack?

Waylen Herdman
  • Franklin, TN
Posted

Currently I'm 22, living with my father and am paying for a useless degree (Theatre, 32k debt ~4.5%). I don't have a career pertaining to my degree but have just recently scored a PT job in a Symphony and hoping I can work myself up someday to a FT position in any department. Anyways, my FT job is is related to pest management and is not something I love at all but it pays decently well for my age and degree (30-40k year). I'm desperately looking for a career change but am so blasted indecisive! I go back and forth on pursuing a career in real estate or just a higher paying position (I would slave away if I was able to work in an air conditioned office and sit on a nice chair :) ) My initial plan has been to pay off my student loans which would take ~1.5-2 years, wait for my GF to move to the USA (3 years from now) and then move into a Multifamily with an FHA loan and rent the other units. I've been reading up on posts here on BP and listening to podcasts like crazy and am starting to feel that it would be smarter to not wait the ~3 years to pay off my student loans and wait for my GF to move here and just jump right in, albeit with ultra conservatism and proper education prior to pulling the trigger.

I live in Middle TN and anyone who lives here knows this area's housing market is red hot and too pricey for me! Plus, when my GF does move here to the states we have planned on moving farther North as she doesn't like the heat, humidity, and bugs :). This basically means that I'm open to move anywhere more North then TN. I've been looking a lot recently at the midwest as it would fit our criteria and prices are generally lower with stable rent rates. I guess my main question is whether it would be smarter for me to research my *** off on potential markets and eventually move to one of them pursuing a pest management field where I'm certain I could find work or to stay put here in TN for another 2 years or so and try to sharpen the axe so to speak and find a career with more opportunities/higher pay while paying off my student loans? For what it's worth I have been trying desperately to get into the property management industry with no success. I have read that      Leasing Agent --> Assistant Property Manager --> Property Management is the most common route but I can't even get an interview as a leasing agent, presumably because I don't have any sales experience which is unfortunate, but that's also something working for Terminix/Orkin could fulfill as those are commission jobs. Thanks guys!

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