Life Situation: Single, 0 dependents, Longtime girlfriend and I live together, 27 currently, never married (but plan on it)
Gross Salary/Wages: $70,000/year
Pre-tax deductions: Per month:$15.36 - Dental, $158.40 - Insurance, $269.23 - 401k
Other Ordinary Income: Pro Driving coach - $400/month
Qualified Dividends & Long Term Capital Gains: None
Rental Income, Actual Expenses, and Depreciation: None
Adjusted Gross Income: $5,790
Taxes: $934.16 - Federal, $287.40 - State, $323.08 - Social Security, $75.56 - Medicare
Current expenses: $4,615.18 ($943.10 -Savings) See Income Statement for breakdown.
Mortgage: $204.04 - Principal, $393.85 - Interest, $202.11 - Escrow
Expected ER expenses: None
Assets: $40,740.69 (excluding 3 paid off vehicles) See Income Statement for breakdown.
Liabilities: $117,949.89 - Mortgage
Specific Question(s): What expenses can I minimize? I had a pretty expensive month because of the dentist visit for $595.39 as well as a new diet that my gf and I tried that didn't work out for $378, which was refunded in May. I'm looking into prosper.com as a place to invest some money but I need the flexibility of cash as I'm looking for my first rental property. I would like to either rent my house out (I have a couple very interested) and buy another house/multifamily home or buy a MFH and continue to live in my house. What else am I missing? Should I be thinking of other things? Life goals are to retire around 40. If I move into a MFH I should only need to come out of pocket around 3.5% vs buying another house at 20% down. How much cash should I start investing in a Peer-2-Peer lending site? Some direction would be great, I know I have a lot of questions but in my current situation I have exhausted my resources of family and friends.
Thanks in advance!
Jeff