Jobless 26 y/o in ok situation. Any advice on how to better manage my finances?

Hello,

I am looking some guidance on how to move my money around. I’m jobless at the moment so I have to be careful. 26 y/o living in California.

Assets:

Debts:

Bills: (these numbers are a little over estimated)

I have no job at this moment. I’m hoping to land a job soon (in the final stages) that nets about 84k a year.

My plan:

Thoughts:

I know by doctrine it is best to max out tax advantages accounts before regular brokerage. However, when I am saving up for larger purchases, this becomes a very difficult decision. Anyone go against doctrine?
I got a 5% down conventional loan on my house. It’s gone up 75k since I bought it last year. I’m thinking about putting 20% (about 40k) down on it right now to reduce monthly bills. This will also remove the PMI. Thoughts? With PMI ($139/mo) removed and an automatic 4.25% return on the 40k, isn’t it a pretty good return? I think it will reduce my monthly mortgage to $1800/mo. The house value right now is ~420k. I bought it last year for ~350k.
a third option is to put a down payment on another house, when I get a job. That’s a risky option and frankly with my debt, I don’t think I’ll even get approved. But through this I can rent out my first house (hot market for rent). I’m just entertaining the idea. However likely not possible at all.
I am eligible for a VA loan. My current house is a conventional loan. I can use the VA loan to refinance the current house which I thought would be cool. Or if I somehow get approved for another house, then use VA loan because it has no PMI and no down payment. Of course, more risk and debt but would increase cash flow.
so my reasoning for wanting another house. So I want a smaller place because I don’t need that much space. I’d rather rent out my first house. I travel a lot anyway.

Thanks. Would appreciate any guidance.

Edit: grammar

Submitted May 04, 2021 at 02:38AM by NalgeneBottle12 https://ift.tt/3eS6Sfl

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