DollarOutta15cents_IHB
New member
First time poster, long time reader.
I have been reading the profiles by IR for some time now. Also I have read quite a few of his analysis posts along with the comments on this board. From it all I have learned about rental parity, renting vs. owning, the bubble, structured financing, etc.
A little about myself. Recent transplant from the Pasadena area. Just starting my career, 27 years old (2nd year attorney). I am currently in 90k of student loan debt. I live with a couple in Woodbury (I believe its in the Treo plan). Anyways I pay $935/month including utilities, which you really can't beat living alone. But debating renting a 1br somewhere in the area and eat the extra costs.
That being said, I have a few questions:
1) What are some good real estate books to read, in terms of learning about investing in real estate, real estate transactions, financing, being a landlord etc? I realize a vast majority of the people here are saying prices will continue to fall, but I still like to get a head start on my education so that I know what's going on when the time is right. I am currently reading the book by IR, but I have a hunger for more.
2) With 90k in debt, what do you suggest I do? As I'm sure some of you know, the interest is not deductible if you make over 70k (a category I am in). My interest on 70k of the loan is at 4.5% and the other 20k is at 5.7%. I am trying to pay off the 5.7% loans as quickly as possible. The loans are set to be paid off in 20 years, but I'm trying to get rid of them as soon as possible. Should I just make the standard payments and save up money for a larger down payment on a home, and then refinance the student loans into the home, so that the interest is deductible (even a slightly higher interest rate)? Or should I just try to reduce my debt over the next year or so, but then be stuck with a much smaller down payment, when it is time to buy. Or is there another option that I'm not thinking of?
Any advice would be great on both questions.
I have been reading the profiles by IR for some time now. Also I have read quite a few of his analysis posts along with the comments on this board. From it all I have learned about rental parity, renting vs. owning, the bubble, structured financing, etc.
A little about myself. Recent transplant from the Pasadena area. Just starting my career, 27 years old (2nd year attorney). I am currently in 90k of student loan debt. I live with a couple in Woodbury (I believe its in the Treo plan). Anyways I pay $935/month including utilities, which you really can't beat living alone. But debating renting a 1br somewhere in the area and eat the extra costs.
That being said, I have a few questions:
1) What are some good real estate books to read, in terms of learning about investing in real estate, real estate transactions, financing, being a landlord etc? I realize a vast majority of the people here are saying prices will continue to fall, but I still like to get a head start on my education so that I know what's going on when the time is right. I am currently reading the book by IR, but I have a hunger for more.
2) With 90k in debt, what do you suggest I do? As I'm sure some of you know, the interest is not deductible if you make over 70k (a category I am in). My interest on 70k of the loan is at 4.5% and the other 20k is at 5.7%. I am trying to pay off the 5.7% loans as quickly as possible. The loans are set to be paid off in 20 years, but I'm trying to get rid of them as soon as possible. Should I just make the standard payments and save up money for a larger down payment on a home, and then refinance the student loans into the home, so that the interest is deductible (even a slightly higher interest rate)? Or should I just try to reduce my debt over the next year or so, but then be stuck with a much smaller down payment, when it is time to buy. Or is there another option that I'm not thinking of?
Any advice would be great on both questions.