Investor 路 Wichita Falls, TX 路 Member since 2015 路 43 posts 路 15 votes
Just thought I'd make a suggestion, there's a lot of military people on the site and even more military comments about using VA loan, PM from afar, allowances, and tax situations that are specific to military. Might it be worth it/possible to create a forum under Real Estate Strategies or another area?
We used to have one, but it appeared that interest had waned. If you guys can drum up some more support, we'd be happy to back you up with a rebirth of our military rei forum.
Joshua Dorkin do you guys have analytics on Bigger Pockets members keyword searches? Id be willing to bet that "military" is an extremely frequent one.
Bryan C. - I'm stationed in APO, AE as well! I'm just starting out and would love to chat with you about your experiences being overseas and still being active in the RE game.
You nailed it. I couldn't agree more. Camaraderie is great, and a forum for vets/active duty would be a good place to get input from those who understand your unique situation. Additionally, there are many vets on here with a ton of experience and give great advice.
However, I will continue to seek my investing advice directly from the guys that are doing this full time and have much more experience than I do. (That is why I joined this site in the first place, thanks @Joshua D.!) Too many times in my career, I have sought out, listened to, and applied the advice of those that were around me, because it was easy, because they were brothers in arms, I know them, they know me and they wouldn't steer me wrong. Only problem is, they didn't know their a** from a hole in the ground when it came to investing. I will try to avoid that mistake again....
That being said, I am stoked that there are so many active duty/vets on here getting involved with investing. I love the interaction, honesty, and networking that happens here. I wish everyone the best and look forward to hearing all of the success stories from mil/vets leaving massive legacy wealth for their families.
Please let me know if there is anyway that I can add value to your investing endeavors.
I support this. I am just starting out and want to know if any military members have done what I want to do. I want to buy my first rental property while on leave. In Korea, want to buy a place in Texas while on a 1 week leave. Get a PM, and rent it out.
Welcome to BP . Its a great idea to start out your REI career, especially early on. One coment about your plan is that it would be an extremely tight timeline to get all that accomplished while on your leave window. Do you have an area in texas in mind ? (Killeen , El Paso?) or a non military town. I would recommend PCS back to teh states first . What alot of guys do is buy and hold at each duty station, then find a PM and rent it out when the leave. Do you want to be statined in TX?
I think a military forum would be a great idea. It would be a great place to discuss the particularities of being in the military and being an investor. I get questions from my military peers about my experiences as an investor/landlord, especially when it comes to using the VA. The VA is always a hot topic as is real estate finance in general. Military members have access to a wealth programs like the VA but I find that many of us simply don't have the information necessary to be more effective at using it. You have my vote for a military forum! @Joshua D.
I am a Vet and long time full time investor. My service is the only "real" job I ever had. The Army taught me that I never wanted to take orders from anyone ever again. Mission accomplished!
Saying that, I would probably be the member of the group discouraging most active duty service members from investing in real estate from a distance. I have witness far more failures than successes from those investing in every duty station or those who become a landlord by default by PCSing to another duty station. Not trying to discourage anyone but my opinion is that the risk is far greater for an active duty member. Just my 2 cents
I think beginning veteran real estate investors should focus on finding a mentor that has demonstrated success in real estate investing rather than trying to learn from a veteran only forum. I'm a military veteran, a retired Major with a MBA in business and I learned everything I know from a guy who never served a day in the military in his life. He opened my eyes to much-needed skills like property valuation and he had all the contacts in our local banking industry to give me steady access to funds. The VA loan is limited in your ability to grow. It will help you some but to grow really large you'll need other leverage products. My mentor has almost 30 income properties. I have 8 income properties myself (9 total) that act like little cash registers all across Killeen. Beginning real estate investors need a real mentor, one with demonstrated success by owning a large real estate portfolio to make it. Real estate is public record so the real movers and shakers in your local community aren't that hard to find. Most counties have a website where you can search tax records. If anyone says they own a large portfolio, run their name and check. If they do, you've found your mentor. If not, they are a pretender or dreamer, the world is full of those.
@Account Closed im a beggining investor in killeen ive wholesaled some deals before currently building that business back but i need a mentor for buy and hold strategies im also a veteran.
@Cavin Brown Let's coordinate schedules and meet for a coffee one day. I'll tell you my story. I brought my first property in 2011 and I've been moving forward and gobbling up properties ever since. Killeen is a tricky market and income properties need to be carefully selected if they are to produce consistently over the long run.
I am currently seeking military members in the El Paso market that want to learn how to invest. If you are interested PM me. US Army 2001-2003, US Marine Corps 2009-2012.