Want to be Student Loan Debt Free!

3 Replies

Hello BP Community, 

My name is Moshood and after finishing my college studies in 2016, I ended up with over 70k in student loan debt. As most of you know, it is very hard coming out of college and paying it off as quickly as possible. With that said, I was told by a friend to look into real estate investing for passive income and ultimately financial freedom. I have been reading articles, watching videos and learning so much on how to get started. I am really nervous with little money saved, but recently, I was able to turn pro as an esports player for the NBA 2k League (NY). This opportunity can lead to winning big prize money in addition to the salary for the six month season.  This is an awesome dream job to play video games and now I have A LOT of extra time to find ways to earn more money. That time I would love to jump into real estate. 

All suggestions or anything to point me in the right direction would be appreciated! 

Thanks!

BP has a couple lists of "top ~20 books to read", and has good books of their own. Start there. Also, lots of videos to help learn the lingo and understand the concepts.

@Moshood Balogun congrats on completing school and finding a job that makes doing a 9-5 more than tolerable, that's half the battle in W-2 jobs. You are blessed to have something that you enjoy and provides you the opportunity to  set yourself up for savings to invest. I agree with @Adam Detig that the top 20 list is a good start (I've read a vast majority of this list and it's very educating).

I'd start here:

1)Read "Set for Life" by S. Trench, assuming you're in your 20s it's great read and has some solid fundamentals that will paint a picture for the path ahead, knowing specifically you have debt that you can work around. Most of Brandon Turners books are solid too and provide good fundamentals.

2)Look up on meetup.com or the web for a local Real Estate meetup, most are free and just network your nuts off. Shake hands, buy some people lunch and start deciding what strategy you want to start. Listen more than you talk.

3)Continue to educate and then COMMIT! I suggest finding one strategy and really honing in on it. Get good at it, learn, take your lumps, and make midcourse adjustments.

If you truly commit and educate yourself, there is a awesome future for you. (I'm in a similar boat, completed my Master's in Nursing and then decided to go into real estate. I have about 28k left in debt @4-5ish percent blended. Still able to set back a chunk of change each month to put towards real estate)

Good luck!

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