Pay off debt before investing?

[Chaz Parks]

We have about $60k left in debt. To purchase our first investment property would you pay of the debt first or just go for it?

[Theresa Harris]

@Chaz Parks  It depends on a number of things: what are the interest rates on your debt, how does it affect your debt to income ratio, what type of debt is it (car loan, student loan, credit cards)?

If it is student loans or low interest and doesn't affect your ability to get a mortgage, go for it.  On the other hand high interest and credit card debt should be paid down.  With credit card debt, you also want to look at why you have the debt if it relates to your spending or an emergency (ie one time event or on going).