Payoff in every 5 years or continue to build real estate portfolio?
My husband and I are at a turning point in our financial lives. I recently completed my stay in medicine, he is about to get his MBA in two weeks. I ran a “snowball debt” a computer to my new doctor on earnings and we will pay our debts (mortgage principal residence, mortgage for 3 investment properties, credit cards and small student loans) in 5 years. This does not apply to the salary increase that will hopefully get my man, if full payment even faster than 5 years. We also want to put tons of cash in early ‘gespeichert.Auf interest on the other hand, we also set the goal of building a real estate company, including the transition from renting residential medical care commercial rental properties. In support of this goal, we have used the weak housing market and continues to acquire residential property. That would give us a lot of money because of our great city in southern Texas cheap housing, which is now more depressed affordable in this market, but is certainly worth a lot more over the next five years or so.Mein husband and I discussed in detail, we’ve gone back and forth. The two routes are very attractive. So my question is – If you were in a similar situation, would only form of payment “and delete your debts in 5 years or if you are building a large portfolio of property Lavista – totally missed. First of all, my degree is worth more than paper. For me and most countries in the world is there to do my degree, I always wanted to heal people. In addition, I try to ensure that I caught not by the superficial world, my husband and I live in a country where the average wage is 1 / 3 of (although I consciously that something constant I confess to fight against) which is our annual salary, my car is 10 years, I still have clothes that I had since college, we rarely try to shop for all consumer goods and, general, be good stewards of the earth’s resources. After these words, I would not be stable. I like knowing that whatever happens, I’ll be in a position for me and my family to do. There is nothing superficial or wrong on this point since I would like to donate more time and money than the average American citizen. Thank you for the link, though. I’ll check. -M