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All Forum Posts by: Robert Farrow Jr

Robert Farrow Jr has started 2 posts and replied 9 times.

Originally posted by @Jon Kelly:

@Robert Farrow Jr refinance your student loans to a lower rate around 5%. Can you purchase an investment property with a cash-on-cash return greater than 5%? I hope so... Go for the investment property. 

You'll hear all kinds of opinions on debt vs. equity. It comes down to personal preference and your risk tolerance. It's important to be self aware with how you handle your money. If you don't trust yourself with handling cash then paying down debt is a good idea. If you manage your cash wisely and are opportunistic then debt can be your friend. 

wow that’s great insight. I will see if I can do that and hopefully it would work. I was worried those student loans would stop me completely. Thanks for the comment 

Hello everyone, I have been studying and listening to podcasts every night while I work but I haven’t ran into any podcast dealing with debt. Personally I have student loans (About 10k), and my question is, should I pay off my student loans first and then purchase my first investment property? Or should I purchase my investment property and use the cash flow (If any) to help pay down student loans? I have already spoke with a loan officer that said he could work with it, but I would like to hear what the BiggerPockets community has to say. Thanks a bunch!

Originally posted by @Anthoney Hanks:

Welcome to Bigger Pockets @Robert Farrow Jr! What a great goal you have! Wishing you success as you build your portfolio! 

I definitely appreciate it. I always try to dream big, and work harder. 

Originally posted by @Robert Miller:

Welcome JR,  your in the right place.  BP is a fantastic resource for information.  Do you have an idea of were you willing.to invest?

Thanks for the welcome. At the moment I’m interested in places not directly in New Haven. Maybe up to 15-30 minutes away form there. Like guilford, Meridien, maybe Hamden 

@Julio Gonzalez I can see. I’m extremely excited to begin my journey

@Ryan Porter That’s Great. Happy to meet you

@Cherie Gatling thanks So much😎

@Mat O'Grady Hey, I’m on the New Haven and East Haven boarder line. I’ll definitely make sure to attend meet ups if I can find some

Hello everyone, my name is Robert but please call me JR. I’m in Connecticut looking to become a real estate investor. The method I’m most interested with is buying and holding, to create a cash flow situation. One goal of mines, is to make as much money as I possibly can. Millions or even billions. Now let me say, I know this won’t happen over night. But I’m willing to work and grind hard for the lifestyle I want. As of right now, I’m working 80 hours a week to fund my first deal. Hopefully I can meet some new friends up here, look forward to meeting some of you really soon.