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Morning guys,
Coming to you guys for advice. I have 25k cash that idk what to with. I don’t want to blow it on dumb shit truck parts etc cause I know that I have an opportunity to make more money out of it. I make right at about 6 figs a year gross and 95k net from me getting 45,500$ from the VA. I currently pay around 1300$ for my truck with payment (it’s my guilty pleasure after I put money aside I put money aside for that as well lol) and insurance, pay my dad 600$ a month (but that ends in December) and I’m trying to pay 1k a month towards one of my credit cards after almost maxing it at 19k it’s currently at 13.3k Once I’m done with my dad I’m going to use that extra 600$ for the other credit card at a current balance of about 3.5k. Real estate agent told me I need to get the big card down to 7500$ for debt to income ratio.
House I have is paid off and going to put that up For rent once I move around April after a buying a house. So that’ll bring in 3500-3750$ a month taking care of the new mortgage completely. The only problem is I have no proof of how I got it to the bank, IRS etc. My girl has said let’s put it towards a house. Which I agree with but the thing is I’m a 100% disabled vet so I don’t need a down payment or pay property taxes where I’m at. Only might need closing cost payment. And that can just be rolled into the loan.
I don’t really wanna do the Wall Street way tbh I’d much rather do property or a laundermat, self serve car wash, storage lot or parking lot etc.
Would this be a good situation for a life insurance policy? To take one out and buy a house or business?
Any tips or pointers would be nice and thank you for your time
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- 1 year ago
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