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Updated over 10 years ago on . Most recent reply

User Stats

32
Posts
15
Votes
Mark Maire
  • Silverdale, WA
15
Votes |
32
Posts

Advice needed, short term plan

Mark Maire
  • Silverdale, WA
Posted

In order for the advice needed, I need to tell you my situation..

I am a sea duty sailor, I work very long hours 4 a.m. - 6 p.m., I am usually stuck on the ship 1-2 nights a week, underway 1 week a month/7-8 months every year and a half.  It will only be like this for about 2 more years where I will eventually get off the ship.  I really wanted to get started in real estate investing, but uncomfortable in doing it in my area when I am leaving soon, and uncomfortable with investing out of state after strongly considering it.   

I have been aggressively saving money and I receive a decent bonus every January until I get out in 2020(not retire).  I have nearly perfect credit(796).  I have zero debt, unless you consider the house I bought in 2010.  $164,000 left on mortgage, houses similar to mine sell for around $180,000-$190,000(steady market) which I plan to sell and not rent when I leave.  

I will be leaving Virginia in the summer of 2016.  I will still be in the Navy, but I will have a much more predicable schedule and I have the chance to basically move anywhere in the United States.  Where I move next is where I want to invest and live for the "rest of my life."  

So for the advice needed, what can I do in the meantime?  I believe my savings needs to remain flexible for when I move.  Obviously I will continue to aggressively save money.   But cash just sitting in my savings isn't helping at all.  Should I aggressively pay down my current mortgage and net the profits for when I sell?  What are my other options?  

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