Student Loans Debt. Need Advice

3 Replies

Hi BiggerPockets community! I am a beginning investor, currently educating myself. I also am an undergrad facing student loan debt when I graduate this spring. I am just looking for advice and different strategies using little/no money down so I can get started while also handling my debt. To get started I was looking to rent out a multi family and build from there with other rental properties. I appreciate any knowledge you guys have to help me approach this situation the best way in the near future!

I suggest getting your license with the bit of money to get licensed. Once you do that and work with a couple investors, you'll learn a lot and understand how to find deals and methods. 

Outside of real estate investing, I would also look into consolidating your loans. Check the interest rates, if you got government loans from FAFSA those are pretty high at 5.8%. I had others that were at like 8% and after consolidation, I was able to get mine down to 4%. It'll save you a lot of money as well. 

Eliminate your loan debts first. It is a good test of financial discipline to eliminate all debt before you begin to save to invest.

If you can not eliminate debt you likely do not have the discipline to be a successful investor.

Investing is not a path to eliminate debt, eliminating debt is the path to becoming a investor.

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