Investing while in Marines?
Hows everyone doing? Hope you guys are killing it.
Anyway, Im a 19 yr old currently deployed in the Marine Corps. Ive spent everyday this year trying to develop my mindset and financial IQ. I save up almost everything I make, and want to get started with real estate investing hopefully by the end of this year. Getting the ball rolling is the hardest part.
I find trouble in knowing where to get started, because of where im located. Ofcourse its best to be able to personally see and manage the property from within driving distance, but being stationed In California when I get back, I know its an expensive and hard market to start out with, especially with only the 20k im aiming to have by the end of this year.
Correct me if im wrong, but the VA loan has to be used on a house youre going to "live in". So unless theres a loophole, using the VA loan I would have to buy somewhere close in California to where im at.
Even if I were to have family manage a property in another market, one lives in New York and the other in Florida. Also markets I dont think Id be able to afford right now.
Basically, what are my options?
Would it be smart to use VA loan on a house im california, thats probably over my price range?
Should I partner with someone on a property here?
What if one of my parents moved to a cheaper market and could “house hack” there while managing it?
What could I do in the meantime until the end of the year when im back in the US and able buy?
or should I wait for... the bubble to pop?
I have time to decide, but want to start preparing, the sooner the better.