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Updated almost 7 years ago on . Most recent reply

User Stats

27
Posts
5
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Joseph Beazley
  • Contractor
  • Ojai, CA
5
Votes |
27
Posts

Paying off any sort of loans before investing?

Joseph Beazley
  • Contractor
  • Ojai, CA
Posted
I am currently working and saving money for my first real estate investment. I was curious, if you have say an auto loan or maybe some debt in a credit cards. Is it wise to have all that paid off before investing in real estate? In my case, I owe about 8,000$ on my auto loan at a whopping 2.3% interest for about three years. I'll end up paying about 600$ in interest. I have the money to pay it off. Should I? Thank you. Any information is appreciated.

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