All Forum Posts by: Philip Drach

Hi everyone!

I'm looking to invest in my first real estate property, either a SFH or a multi-family, and do a house hack situation in one of Connecticut's markets. I am a 27 year old, single investor, making $70K gross annual, currently living rent free at my parents home.

Now, I have $34K in student loan debt that needs to be paid off. The interest rates on these loans range from 3.76% to 4.45%. I have about $36K saved and liquid right now + another $13K saved in a Roth IRA. Should I be concerned about paying the student loans off right now? Connecticut has a really great CHFA program for first time home buyers, providing up to $50K in an interest-free "loan", fully forgivable after 10 years. This is used for down payments/closing costs, and more money is provided in higher opportunity areas (affluent neighborhoods).

My thoughts are:

1. Take advantage of the CT grant money for down payment/closing costs - saving me from having to use my $36K

2. Make small payments towards the principal on my highest interest student loans first

Would like to hear what others recommend on this?