Using Real Estate To Help Eliminate Student Loan Debt
Did you miss out on our livestream of this week’s Money Monday? Keep calm. Don’t fret. You can catch the replay on Purse Empowerment TV.
Trust me, you need to watch the whole video. We closed out our Women’s History Month with our favorite millionaire real estate mogul Claudienne Hibbert. She dropped some jewels on how you too can use real estate to tackle your student loan debt and create wealth. Watch Claudienne dispel some widely held myths about purchasing your first property. Here are some other highlights from our conversation:
You absolutely should pay your student loans. Do not ignore them because when you get ready to buy property it will affect your ability to get a mortgage.
Public student loans are in forbearance right now until September 2021 which means any payments made now go straight to your principal.
You don’t have to choose between paying your student loans or buying a home. Do both!
Don’t make your first home your dream home. Buy a duplex first. Rent out one side and live in the other so it pays for itself and frees up some of your money to pay down on that student debt.
Create income to support your lifestyle and think outside of the box when it comes to increasing your income.
Consider other ways to invest in real estate—hard money loans, real estate investment groups, etc.
Invest your time by watching the playback of Money Mondays where we go in depth on why using real estate is a solid strategy for paying off your student loan debt. Whatever you do, don’t ignore it. Time is working in your favor right now.
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