Updated about 7 years ago on . Most recent reply
What Would You Do In This Situation?
What would you do if you had a 680 credit score, 10K in student loan debt (your only debt) that you can't default on again or you'll be sued and $5,800 cash. This is my current situation and I am desperately looking to get into buy & hold rental property. I'm open to doing some flips & wholesaling to raise capital but ultimately I want the passive income that rental property provides. I'm in the analysis paralysis stage and I hate it! WWYD??
Most Popular Reply
Depends how old you are.
1. Forget about credit score. Doesn't mean much at this point.
2. Get a job (in case you don't have one already).
3. Work your tail off for 3-6 months. Live on cup o' noodles. Cut the cable. Borrow someone's Netflix.
4. Pay off student debt completely.
5. Use income from job to build a down payment.
6. House hack into duplex or 4-plex with 5% down, and rent out the other 1-3 units.