All Forum Posts by: Nick Blais

@Frank Patalano

Frank,

Thanks for your response!

After talking to a few local real estate investors that I aspire to work with in the near future and considering your response as well I am leaning more towards minimizing some of my student loans but not all of them. I think a happy middle ground would benefit me best, paying off half of my loans before investing that way if anything were to go wrong I could manage the mortgage and my loan payments at the same time.

Have a great weekend and thanks again!

@Charles Carillo thank you! I appreciate your insight. Ive been weighing both sides and I might end up doing a mixture of both, paying off about have of my debt and then begin to invest hence it will allow me to have slightly stronger credit.

@Frank Patalano

Hey Frank,

Within the next few months im looking to buy my first deal, which I have already found a three family house and ran the numbers which work for me in my situation. The only thing holding me back currently is my decision on to pay off my student loan debt first or to invest in the property. I also started a new job about two months ago which almost doubled my income. Im leaning towards investing in the property more so i can make minimum payments on loans until i refinance and take out a solid chunk of the debt then continue on.

Thanks!

So Recently i have been analyzing deals, And plan on doing my first buy and hold property. I have found a 3 family home that i plan on using an FHA loan for. I also have about 40k in student loans from graduating last year and i currently make about 80-100k a year. The specific house that i am looking at consists of two-two bedroom units as well as a one bedroom unit. The bank owns this property and has it listed for $160,000. Should I try to pay off my debt before i buy my first deal or should i continue minimum payments and save for the FHA downpayment on my first property. I plan on putting a lot of sweat equity into my first deal while using the BRRRR method.

Thanks