Here is the situation…"What would be your next move?"

[Chance Cooper]

Ok guys I have finally made it home from my deployment and wanted to share with some of you GURU's my current situation. Maybe you can help lead me in the right direction.

Currently my (small) portfolio consists of:

1 commercial property in town that is paid off and appraises for $170,000.

1 single family home that cash flows $382 a month and I currently owe $40,000 on it.

1 primary residence that I currently occupy with my wife and 3 children.

I have no debt other than a truck payment, my bills with my primary residence and the mortgage on the SFH that has a cash flow of $382 a month. Consistently after all my bills are paid every month I have approximately $2500 left to save. This $2500 comes from my job and does not include my cash flow off that property.

I currently have in reserves $29k and I am now trying to figure out what to do with it. (Yeah I know, crazy that I can't figure out how to get rid of 29k lol)...

Normally I would not put all my business out there but I have learned so much from this website that I have no issues sharing with you guys, I have learned tons on this site. I guess my questions would be this…

How would you GURU’s invest the 29k?

I have also been informed by my bank that I could refinance the commercial land for up to $70k. The only problem is it’s a commercial loan and the rates are a little higher than a residential loan but this is an option that I have that will give me instant cash to play with.

Remember, I have 3 kids and a wife so security is a big thing for me. My wife and I are just really curious as to what you guys would say. All opinions are welcomed!