San Diego Newbie

[Peter Whitaker]

I'm 20 years old enlisted Navy stationed in San Diego for the next 4 1/2 yeRs. I've been reading this site as well as many REI books for the past year and I'm itching to actually get involved in investing. Given my current situation being in one if the more expensive real estate markets in the country, and living on a relatively low income what are some actionable steps I can take to getting my first deal? I'm from the Syracuse NY area and plan to live/ invest there after I'm done in the Navy so investing out of state there is a possibility also.

[Greg Potter]

Hello @Peter Whitaker and welcome to BP! You mention having a relatively low income and living in an expensive area, but compared to most people your age who are in the middle of racking up college bills you are in a pretty decent situation by actually having an income. Being military you should be able to take advantage of housing and grocery options and keeping your cost of living very low, even in San Diego. I'd say that the best thing you could do at this point is make sure that you and your wife are on the same page with finances and your goals and that over the next four years you keep your expenses low and sock away a pool of funds for investing. As you eventually intend to return to upstate NY and plan to invest here you could find someone to partner with in Syracuse while you are out west, you bring the down payment and financing ($25k and conventional financing can get you an $80k duplex in a decent area of Syracuse that should yield $1300-$1400 a month in gross rent) while the local person finds the deal and manages it as one possibility. 

Best of luck to you and thank you for your service.