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Updated about 6 years ago on . Most recent reply

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Kurtis Chione
  • IL
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New Future Investor(s)

Kurtis Chione
  • IL
Posted

My girlfriend and I are extremely new to the idea of investing, more specifically in rental properties. We are not sure if we should jump in as early as possible or save up more money before putting down on a property. Currently we live in an apartment, I'm 23 and she is 21, she is working full time temporarily before she continues her last year at school with, yes believe it or not: $0 in debt!! I currently have exactly $999 in credit card debt and around $14,200 in student loan debt. Fortunately, I recently landed a full time job with a salary of $43,303 and paying my debt will be no problem. Do we learn as much as we can and pay off the debt as quickly as possible and wait until my girlfriend is working full time (1 year) or do I jump in earlier and she can join in after college? At first, I wanted to be super aggressive toward my debt, but I'm starting to think that may be a mistake considering the low interest rate. Any ideas or questions feel free to ask!

Most Popular Reply

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Taylor L.
  • Rental Property Investor
  • RVA
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Taylor L.
  • Rental Property Investor
  • RVA
Replied

Personally - my choice would be to pay down the debts as fast as possible. If it's not debt secured by real estate, then (in my opinion) it's bad debt. Gotta get your money right first.

The good news is learning is free or cheap! Get out to local networking events as much as you can. Networking is super important, and you'll learn more there by meeting new people than by sitting around in the evenings. What part of the country are you in?

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