All Forum Posts by: Nick Ritter

Hi all,

Starting with a little background on myself, 24 year old male recently graduated from Minnesota state university, Mankato with a BS in mechanical engineering graduated in May of 2017, currently living with my parents rent free in the twin cities area employed at a large corporation with a base salary of $28 an hour (which will be increasing to about 30 in 6 months) + overtime which ends up being about 50k per year after taxes which I am calming 0. I drive a 98 Honda civic with no loan on it and insurance is $80 per month. I currently have 9k in savings and 44k in student debt.

I would like to ask the forum members on here a few questions, I would like to buy a duplex next year (2018) shopping around 200k for on in the twin cities MN BUT I am going back to school to get my MBA part time while working full time, the program costs 67k and my employer is going to pay 7k per year. Is it wise for me to take on Buying a Duplex with my first homeowners loan and renting out the entire complex and continue to live with my family while in school ? hoping this would help cover additional costs that are going to be associated with grad school and im also looking into long term investing with this and would like to own 2 rental properties by age 35. I have a realtor and she has told me to wait until the market comes back down in one year or so as of 2017 wondering if this is good advise? I have no problem getting approved for mortgages for 250k with an interest rate at 3.8% using the FHA loan

Basically im asking for advise on what I should do while going back to school and any advise in general. about how much I should pay for student loans per month is another big one i was planning to pay it off as soon as possible but others said just pay the min (~100 per month) and keep investing  etc.