94: Rookie Reply: Should I Invest in Real Estate or Pay Off Student Loans?

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 10 July 2021

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week’s question comes from Ben, who actually direct messaged Ashley and asked her a pretty personal question. Ben is asking: As someone with student debt, should I start investing in rentals or wait until I’ve paid off my student loans? It goes without saying that this is a very personal question, especially since it has to do with personal (not business related) debt. Everyone is different in their willingness to take on debt. While some people don’t mind having lots of low interest debt, others want to get rid of it as fast as possible. Both Tony and Ashley have had student loans while building a rental portfolio, so they’ve had to ask themselves this question as well. Here are some suggestions: Make sure you pay off all high-interest debt first before you start investing Use methods like partnerships, BRRRR investing, and other low/no money down options Ask yourself whether or not the future cash flow can help you pay off your debts Never put yourself in a position where you’ll feel anxious while investing And more in the episode… If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). Links from the Show Real Estate Rookie Youtube Channel Check the full show notes here: https://www.biggerpockets.com/rookie94 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie, episode 94.
0:06.8	My name is Ashley Care, and I'm here with my co-host, Tony Robinson.
0:11.1	How are you doing today, Tony?
0:12.9	I'm doing great, Ashley. It's a beautiful day here in SoCal.
0:15.8	I'm looking forward to talking to more Real Estate talk with you today, though.
0:19.2	Before Tony and I started recording, we were just looking at our schedule,
0:23.7	and it appears that we did not plan our vacations while we're actually doing vacations,
0:29.9	back-to-back instead of the same week, so we're going to miss each other, not recording for almost
0:35.6	three weeks. Three weeks, yeah. I mean, but I think that's one of the good things, right, about,
0:40.6	or not one of the good things, but it's something that you have to remind yourself of as you're
0:44.2	kind of building your businesses to not get stuck in just the day-to-day grind of analyzing this,
0:49.8	and putting in this offer and working this deal. So I'm looking forward to a week kind of uninterruptive
0:55.1	with my wife and my son. We're actually going to like Tahoe for the first time here in California,
0:59.5	and I hear it's beautiful there, so we're looking forward to it. That's awesome. I've never
1:03.2	been, but I agree with you. It's very, very easy to say yes to things, especially virtual things,
1:10.5	and packing up our camera equipment and recording on the road. That's very easy to do, and a lot of
1:16.6	times I don't mind and I prefer it. I love it, but I'm deciding that this is actually going to
1:22.5	be a vacation, so real vacation. I did schedule one call so far, but we'll see. I'll try to say
1:30.0	no one limit myself and have that time to relax. Yeah, I'm going to try to not even bring my laptop
1:35.1	with me like I just want to like leave it and not even have the opportunity to do work while I'm
1:39.6	out there. So we'll see. Yeah. Okay, I'm going to hold you to that. I'm going to make sure that
1:43.5	happens. But what do you got for us today? So hold on, before we dive into today's episode,
	...

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