All Forum Posts by: Nathaniel McKimson

Originally posted by @Matt Motil:

Welcome to BP @Nathaniel McKimson! Sounds like you're off to a good start! I get that question a lot and did a podcast episode about it the past few weeks. At the end of the day, your student loans will most likely be at a much lower interest rate than where the building will be returning. You could purchase the building, and use the cash flow to make your student loan payments. If you were talking about paying off high interest credit cards, that's one thing, but low interest debt is different. I would continue to make your payments and leverage your lump of cash to purchase an asset. 

 Yep all my debt is student loans which are all low interest. Thank you for the input all of these replies helps me feel like I'm not crazy! 

@David Sargent  I totally agree  with that metal victory after paying them off going to be good day for sure! Although I feel that I have wasted years already so many rent payment ;( 

@Caleb Heimsoth I already have few jobs line up when I finish, but I plan to do a few more years of fishing for sure pretty good pay for two months! I'm trying to set up next few years  the best way that I can  going by the numbers. Paying my student loans off would be great, but the interest rate is so low. The loan is big hurdle that I will have to jump over for sure, trying to figure that one out so many options! 

@Cam Jimmy Hello thanks for the input! I already feel like that should have done this when I started college. 

( Fish out of Egegik Alaska, Bristol bay "

@Fradel Schaechter Thank you for your input and the advice on the @mention i see how it is done now

Thank you Mr. Tarvavella for the reply. Partnering is a option that I have considered, my only concern is making a mistake and losing someones money. Working for someone as intern “for experience” I have not thought of I will reach out in my town and see who would take me on next fall.

@caleb heimsoth thank you for the reply! Sorry for not clarifying, I will be graduating this coming December. The job is commercial fishing business In Alaska that I help run!

Hello all! My name is Nathaniel Mckimson and I’ve been listening, reading and watching everything that I can get my hands on about Realestate for almost a year! I’m looking to do a house hack in the fall and getting my feet wet in this business. Quick question I’m already leaning one way, but I would love to hear what other members might think about my situation I have a summer job that pays very well which will leave me with a lump sum of cash around 30k. My plan is to use most of this cash for down payment for a multi family building, But I also have student loans that are sitting at 20k and will be at 24k by the end of this fall. What do you all think spend the cash on a building or pay my only debt off first? Thank you for any response in advance.