Updated about 6 years ago on . Most recent reply
How to "Take the next step
I am curious to see if anyone else shares my dilemma. I am in the service, bought my 1st property and fixed it up, currently my primary residence. I want to expand my real estate portfolio, but am too nervous to rack on more payments to my current military salary. I see great deals in my area but I hesitate constantly in fear of putting myself in financial hardship. Has anyone been stuck in a similar situation and took a step to further themselves? Thank you in advance.
Most Popular Reply
@Emosi I'm an active duty military REI guy, and I understand what you're saying. I would say the quickest way for you to get past that fear is to think about the worst case scenario, and realize it isn't that bad.
If you lost Everything in real estate...you still have a career, BAH, BAS, SGLI, GI-bill, etc...so you will be able to rebuild and go for it again.
Don't overleverage, or take on more risk than you're comfortable with, but understand that the reward greatly outweighs the risk.