All Forum Posts by: Scott B.

@Alex Weissgerber The idea of having the student loans paid off really appeals to me. Currently that's my only source of consumer debt outside of my cheap car and it'd be great to have that off my shoulders.

I've considered renting out the condo down the line, but the #s don't really add up to me and more than likely would be 4+ hours away from the unit in the next few years so would need a property management company which makes cashflow that much worse.

@Alexander Felice I've been considering just making the minimum payments, and increasing my cash on hand. Currently don't have any rental properties but would be good to have cash for a 20-25% down payment in the near future (1-3 years.)

Hello All,

I have a general question in regards to what debt to pay down first. Currently my largest sources of debt are my condo I recently purchased in April 2018 and my student loans. 

At my current payment rate my mortgage will be paid off in 10 years, but as a young professional I realistically won't have the mortgage for the life of the loan. My question is would I be better off putting the additional payment to my student loans instead of the mortgage? Currently leaning toward putting the payment toward my student loans as the mortgage will be paid off once I sell the place and I would still have the student loans.

Mortgage interest rate is 4.75% and the student loans work out to be around a 3.78% interest rate.

Any thoughts would be greatly appreciated.

Thanks,

Scott