Looking for guidance….and maybe a mentor???

Question

Hey everyone, I'm a 34 year old Air Force Vet, earning 6 figures as a Business Consultant. I have 6 figures in cash reserves and I've been curious about RE. Moving from base to base, I've been forced into renovations of previous homes (cough "pipe burst flooding") and currently helping with my mom's renovations in my childhood home. I have a Contracting Officer background as well and so I'm looking for direction. I like the thought of flipping homes and providing a "home" for buyers looking to move into the local area.

Drew Sygit · Answer

@Denzel Dones connect with @Jaycee Greene, he's a wealth of info!

Bruce Lynn · Answer

Buy a fixer with a VA owner occupied loan.  Move in and fix while there.  As fast as you can...maybe a year later Rinse and Repeat.  Sounds like a perfect side business for you.

If you run out of VA eligibility, then replace those loans with DSCR loans when you have to refinance to do the next project.

Moe Sidd · Answer

@Denzel Dones,

With your background, flipping could definitely be a good fit, but I’d also look at long-term SFH rentals if you want to build wealth and cash flow over time. Especially starting out, I'd advise the more passive, easier option in real estate investing.

If you’re open to out-of-state investing, markets like Toledo, Detroit, and Dallas have been great for both flips and rentals depending on the neighborhood and team. I’ve learned a lot from successes (and a few misses) in those areas and happy to share what’s worked if you’re exploring that direction.

Denzel Dones · Answer

@Moe Sidd oh this is also really interesting and yes if it is advantageous. Yeah I'm willing to connect further to learn from your experiences. Let me know how I should be reach out to you.

Todd Anderson · Answer

@Denzel Dones,

Welcome to the BP community.

With what you have mentioned with jobs and reserves. I suspect that you are not looking for an other part time job.  I'm sure you are looking into REI to grow your wealth.  Your background will offer you good insight into the property but may of the investors that I talk with are not interested in the headache of a renovation.

When I talk with investors in our position we talk about investing in New Construction.  For the first time in may years on average new construction has become cheaper than existing.  Many builders are also able to offer incentives that are not available on the secondary market.

the Charlotte market is a fantastic place to invest.  It is a market that is growing in both population and well paying employment.

Let me know if i can answer any more specific questions.

Best of luck on your REI journey.

Elealeh Fulmaran · Answer

You’re set up to win. Start with a light, cosmetic flip in a neighborhood with fast retail demand, not a heavy rehab. Lock ARV with three tight sold comps, get a line‑item scope and two bids, and include all carrying, closing, and selling costs in your math. Set a hard profit floor and walk if it’s thin. Build your core four now—agent, GC, lender, title—and run weekly timelines like you would any contract. First target: a clean house that needs paint, floors, fixtures, landscaping, and a quick list. One boring, profitable rep, then scale.

Denzel Dones · Answer

@Jaycee Greene I think you are spot on here.

Looking for guidance….and maybe a mentor???

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