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Updated about 7 years ago on . Most recent reply

User Stats

73
Posts
6
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Sherwin Vargas
  • Investor
  • pawtucket, RI
6
Votes |
73
Posts

What should i do with money

Sherwin Vargas
  • Investor
  • pawtucket, RI
Posted

looking for advice, posted something similar in reddit personal finance and got no help and a ton of judgement 

Me and my brothers have about 95k to split from our father, his kind of get started in life money. Me and my brothers already own a multifamily and do want to keep investing in real estate. 

Brother 1 - has 20k car loan, 5k personal debt, 3k school debt

Brother 2 - 10k cc debt

Me - 32k student loans, 10k car debt 0 cc debt 

My question is should we use the money to pay off some of our debt or keep leveraging debt and get another multifamily. Brother 1 , will most likely get approved for a multi and would be a first time homebuyer. I can also get approved for another 3 family but we would have to put 20 percent down because i am owner on the first one. 

Just looking for opinions and thoughts thank you in advanced 

Most Popular Reply

User Stats

73
Posts
6
Votes
Sherwin Vargas
  • Investor
  • pawtucket, RI
6
Votes |
73
Posts
Sherwin Vargas
  • Investor
  • pawtucket, RI
Replied
Originally posted by @Eddie Aviles:

Hi, what is your why? And what are your goals?

 I want to invest more in real estate because my father who is an euntreprenuer was never around always working and fixing problems at work. To me real estate is a way for me to earn income and have more free time for my two kids and be able to leave something behind for them. Also graduated with a degree in accounting and finance and by graduated lost all confidence in the stock market. Real estate makes sense to me and leveraging debt is a great tool to be able to use 

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