Updated over 6 years ago on . Most recent reply
New Property or Pay off Student Debt
So I own one rental property and I can cash out refinance and get $50,000. I'm a High School teacher and want to go from 2 units to 12 in the next 3-6 years. My wife has about $50,000 in student loans remaining. What is a better choice buy another property or pay off debt. If I cash out refinance my property will still have cash flow and is currently rented out through out the next year. I'm thinking the better bet is to remove the $600 a month debt. Then buy property because it will be easier to lend to us with a lower debt to income ratio. We would also be closer to FIRE without the student loans. Or is the wealth addition with a property better?
Thoughts?