All Forum Posts by: Morgan McConnell

@Marc Winter

Thank you, very sound advice. I’m definitely trying to educate myself as much as possible before making any moves. I just don’t want to get stuck in the “analysis paralysis” that I keep hearing about. #3 and #4 are great points. I’ll keep this in mind and try to ease her into it.

Hey guys. I'm looking for some advice. I have been reading about real estate investing for the past ~6 months and I really want to jump in within the next year. My wife and I currently have about 60k debt (mostly car notes and some credit cards, not including our primary home) and not much saved (we've been aggressively paying it off). I'm expecting a 20-25k bonus later this year and I would like to use that to get into flipping to pay off our debt and then build up some capital so that I can get into doing BRRR's. My wife is totally against investing the money and thinks we should pay off all of our debt (minus the house) before investing. I think that through flipping, I'll be able to get us out of debt fast and achieve financial independence a lot sooner. Do you guys have any advice on how to put her mind at ease? Or I should I go with her advice and get out of debt first?

@Frank Patalano, For one thing, my wife is not very supportive of me getting into real estate investing. But mostly, trying to get my finances right. Currently about 60k in debt (a little credit card debt, mostly car notes) with not much saved up. I’m looking at a 20k bonus later this year (which my wife wants us to pay down debt with) but I think I’m going to use that to get started. It’s just going to take a lot of convincing. I’m really hoping my first deal doesn’t flop so that I can get a little more buy-in from her. I want to start with some flips to generate capital and then move into brrrr.