Updated over 5 years ago on . Most recent reply
Newbie strategy question
Looking for advice: I am a newbie to the REI world. I have been working towards paying off debt for the past 9 months. I have $73k down and another $75 to go (Mostly school loans). I have a $1128 in debt payments + an additional $4-5k to pay down principle.
The way I see it, I have a few options.
1. Save up the $4-5k every month until December, giving me a nice chunk to Invest in at the new year.
2. Start using my $4-5k to get my foot in the door with as many opportunities as possible. (Buy and hold in Midwest.)
3. Pay off debt to decrease the $1128 and add it to my investments at the new year.
I appreciate the advice!
Most Popular Reply
Welcome to BP, @Josh Best! Way to go on paying down so much debt, I would encourage you to pay off the debt first, then you'll have that much more extra each month to use for investing, plus your debt-to-income ratio will be better for lending purposes. Lots of great opportunities in the NW suburbs of Chicago as well!