How would you invest 40k dollars?

[Nathan Doherty]

Hello everyone,

I'm looking to hear some ideas as to what you guys and girls would do in my shoes. Next week I will be selling my first "investment property". It has been my primary residence for 2 years and I will walk away from closing with about 40k dollars thanks to the sweat equity I was able to add and the great purchase price I had. Now I am trying to figure out how I want to invest this cash. In about 6 weeks I am moving across the country and leaving my stable military job to attend college for free using the GI Bill. I will receive a housing allowance while I'm in school, and my wife will work full time. I will also work part time. Altogether our monthly income will be a little less than what it is now but we will still be able to cover the bills and put a few hundred bucks away per month at a minimum. The market we are moving to is a little bit on the more expensive side of things. Ideally I would like to buy a small multi family using my VA loan and house hack. But that will probably have to wait until I have a steady job because I don't believe banks will consider my housing allowance as income. I have considered maybe trying to find some properties to flip as I can bring the money for the project and manage it while a partner can buy the property. I know this is long but I just wanted to basically explain that I'm leaving a stable income source for a not so stable income source but I still want to invest my money so I'm not wasting its potential sitting in a savings account. Thanks In advance and please ask questions because I'm sure I didn't explain it all!