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All Forum Posts by: Austin Byassee

Austin Byassee has started 1 posts and replied 3 times.

Starting Out

Post: Pay off car loan or house hack?

Austin ByasseePosted
  • Posts 3
  • Votes 2
Quote from @Joaquin Camarasa:

Reach out to a lender, see how much you qualify for and check your total monthly expenses in the event you'd purchase a property. The numbers should speak by themselves. 

Thank you!
1 Vote
Saint Louis, Missouri
Starting Out

Post: Pay off car loan or house hack?

Austin ByasseePosted
  • Posts 3
  • Votes 2
Quote from @JooYung Choi:

Hey Austin,

I would opt for buying the MFH, but it depends. If the car loan is taking up too much space on your DTI to be able to buy a deal, then it would have to go there first. If you can buy the home you want without paying it off, then go for the MFH. The asset could pay your car loan every month!

Thank you!
0 Votes
Saint Louis, Missouri
Starting Out

Post: Pay off car loan or house hack?

Austin ByasseePosted
  • Posts 3
  • Votes 2

I am at the very beginning of real estate investing. I am 20 years old and currently still living with my parents. I have a $17,000 car loan with a 6% interest rate (looking to refinance soon) but I am looking into house hacking a multi family home. Should I save up to buy my first multi family home or should I pay off my car first. Dont have much saved up yet but that can change soon and was wondering where I should put my money. I have great credit as well. Currently working 2 jobs and working on building my own business to save more and to increase my income.

1 Vote
Saint Louis, Missouri