@Ashley Gish I feel your pain. We don’t have that much but still had what feels like a lot of student loan debt when we began investing. We began with a different strategy (wholesaling) to bring in the income to pay off our debts. My hope is to pay off the loans in a few years vs. 15 that’s left. Real estate rentals have a lot of costs associated- like you mentioned repairs, and make-readys when tenants leave. One rental isn’t going to help much; from what I understand it takes several units to break even sometimes (even with everyone’s 1% rule). I wish more than anything that I had no student loan debt- it’s the only debt that’s never. Ever. Forgiven. So for 30 years I basically have the equivalent of an extra mortgage payment each month; yes WE those of us who took out student loans need extra income streams. The fact that student loans are Never forgiven, it’s a broken system. Not until you die (who made these rules I’d like to see them go back to the drawing table). At least in Real Estate you have the option of foreclosure or even bankruptcy - that makes it a bit less risky than student loan debt. Someone’s probably going to take that the wrong way, I refer you back to Trumo and other millionaires who’ve used that system. Final thought can you get creative and Can you do both? Best of luck!
