All Forum Posts by: Zachary Giles

@Joshua Myers

If you don’t mind me asking how would you have balanced it out looking back with 20/20 vision?

@Matthew Heimann

After talking with my wife she is now more on board attacking our debt Dave Ramsey style, and then entering the market for investing. There will always be people looking for real estate, and I would rather take this time paying off my debt to learn as much as I possibly can about the real estate world as well as master my financial life, and really have a sound plan for wealth and financial freedom

@Caleb Heimsoth we got a 2019 Toyota Corolla, my dad has had a corolla for near 20 years and has had 0 issues with it and puts a TON of miles on it, that was why I figured I’d get the corolla.

@Caleb Heimsoth agreed, I feel very stupid for taking that car loan, something about new degree new job and new car all sounded good, fell for the idea I have been told since birth “debt is adulthood”.

@Mark Allen Kenny

That’s probably the best explanation of leverage I have gotten so far, thank you.

@Caleb Brown my plan was to have about 50k saved for investing, and to put roughly 25-30 of that down on the first property depending on how good of a deal I am able to make. Having roughly 20-25k of “cushion” while still adding 2k a month in savings. I am all for having this plan picked apart, I like the advice and appreciate everyone’s input! Thank you!

@CJ M.

Right now my wife and I are not struggling to pay the bills. Our debts are about 20k on a car and 60k on student loans that we are federally held student loans, which we are aggressively attacking during this 0% interest window we have. We both have solid jobs and are able to save about 2 thousand a month, sometimes more if our expenses come in under budget. Big question is do I put 1000 towards savings and the other towards debt or just put it all towards our first investment. Our current plan is to save for 2ish years to put a down payment on our first rental property, and then continue working our jobs and saving to buy 1 rental property every 2 years until the cash flow will ultimately allow us to buy properties and expand based off of the CF our other properties bring in. The ultimate goal is to have a portfolio allowing me to retire by the time our newborn is 10 with the only debt being our properties mortgages.

My wife and I are split 50/50 on wether or not to pay off all our existing debt such as student loans and auto payments before we take on more debt to invest into real estate, or we begin saving to buy our first rental property. My personal opinion is that debt in real estate isn’t true debt, but I am just curious as to what others have done and how others feel about this topic?