Interesting Financial Situation - Should I Start in Real Estate?

[Cory Davis]

Hi all, I'm new to the forum. I am interested in getting started in real estate, but I am having second thoughts because of my current financial situation. I am an emergency medicine resident in Ohio. my financial situation is as follows: Debts: My student loans: 70,000 @5.6%, 200,000 My wife's student loans: 110000@ 7% Mortgage 120,000 @ 3.5% Income My income: 55,000 Wife's income: 60,000 I also have about 7000 in savings and 15,000 in stocks/ETFs *I have 2 more years of residency and should then have a salary around 350 to 400,000. I know I should focus on paying off loans, but I truly believe this could help me with that if I am smart about what I buy. Am I crazy? Should I just focus on paying down student debt and wait on real estate? Thanks for your help.

[Jonathan Holmes]

If you don’t have a primary residence you are in a good position to house hack. Look for a duplex, triplex or quad with a lay out and in an area you’re comfortable living in. If the numbers are good buy it and live there until you’re done with your residency.

You’ll get your feet wet landlording have a low down payment and be able to increase your savings dramatically.

Once you get your income boost you’ll be golden for debt pay down and to continue investing.