All Forum Posts by: Jessie Nunley

My fiancé and I are on a path of "but and hold" and our plan is to go above the traditional 20% down on a property. We look to be able to put 30-35% down on 1-2 duplexes each year. Nothing fancy but we have no illusions of getting rich quick.

There are an estimated 125.82 million homes in the US as of 2016. It would take a very long time for this technology to be put in that many homes. It would take even longer for new homes with this technology to catch up to that number.

@Shaun R. congrats on your first deal!

@Raymond Guillotte Although it was not school loans that brought me to this point in my life, I know the feeling of having that light bulb moment and developing that desire to change your life! Don't give up man!

Originally posted by @Raymond Guillotte:

@Jessie Nunley It would take at least 8-12 years to pay off my loans. The way I look at is, if I can afford to start investing in real estate (house hacking, eventually building a portfolio) I might as well start now and use the proceeds to help pay off the debt in a shorter amount of time while also building my real estate portfolio.

 8-12 years to pay off student loans at $1500 per month? Holy smokes that's a steep price to pay for a simple bachelors degree. As you can see from many of the posts already, house hacking is the way to go! My girlfriend and I have been using the BP articles, listening to every podcast, and watching every seminar and it has helped us immensely! I know there is tons of useful information on this site for you. If you haven't already done it, I recommend you read Rich Dad Poor Dad, easily one of the best books I've read in my life with regards to my future!

@Raymond Guillotte what would it take for you to pay off your student loans before investing? $1500 per month is a big payment. Even if you refinance you're just pushing that end goal further down the line. I too am waiting roughly 12-15 months before I start investing but my reason is job driven rather than money driven.

@Omar Cantu 

@Joe J. 

Thanks for the clarification! I still stand by my previous paragraph. You really need to think about your reasons for doing this. A good book to read is "Start with Why"

@Omar Cantu please correct my math if it is wrong but from your post above your truck was 41k when you bought it and now you own 24K and you've only made 14 payments at $560? those numbers don't add up?

@Omar Cantu saving up money for a down payment is never a bad path to take. It may just take you longer to start making any money. Also, a down payment lowers your monthly payments which should allow you to have more cash flow. A $560 dollar vehicle payment is really a lot to pay out each month. I'm sure the insurance on a vehicle that expensive cant be cheap. Maybe you DTI is a lot higher than you think because I'm sure you have a cell phone payment and other necessities such as Netflix or amazon prime. Those are not bad things, just maybe something you haven't accounted for.

Starting a family is an amazing thing but you really should take a step back and think about that for a second. Babies are not cheap and unless you have crazy good insurance (which no one does thanks to ObamaCare) you will be paying 5,10,15 thousand dollars for doctor bills. 

Take a step back and think of the reason you want to do REI. I am sure you can see from many of the blogs, podcasts, and webinars on this website that REI is generally not a get rich quick endeavor.

@Steve Hodgdon Yes sir! I'm