On deployment for 2 years looking for advice on what to do when I get back

Investor · San Diego, CA · Member since 2016 · 1k+ posts · 975 votes

2y

@Marc Globensky I've been an active duty Navy officer for the last 14 years and a real estate investor on the side for the last 7 years.

I would get crystal clear on where you and your wife want to be in the next 5 - 10 years. Maybe that looks like you staying in the Army and maybe it doesn't. If the goal is to build as much wealth as possible via real estate, you should probably get out when you can.

However, If the goal is to have a strong sense of purpose and fulfillment via your military service, while building your portfolio on the side (this is accurate for me) then you should stay the course.

Personally, I wouldn't focus on flipping because its a job and gives you income, but not wealth. Get some clarity on your long term goals with your wife and once you do, the strategy will likely reveal itself.

Good luck, keep us updated, and let me know if I can help with anything.

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David Pere

Rental Property Investor · Springfield, MO · Member since 2016 · 1k+ posts · 890 votes

2y

Quote from @Marc Globensky:

Hey all,

Getting ready to Mob here in the next few days for the next year only to come back and mob with my brigade for another year. expecting to net roughly 120k over the next few years just from the army and roughly 10k from current investments. I plan to come home in 2026 with money, an ideal set for entrepreneurship, an MBA, and a drive to get on active duty from guard. I'm looking for advice on how I should go about growing my portfolio or if I should just wait until I am done with the army forever. I wouldn't mind making it a 30 year career already at 10 so... I also have a 4 plex outside "The Great Place".... and some in Indiana. the total cashflow for the portfolio this year is negative due to capital improvements but rolling into next year and the mob will be cashing 700-1000 a month and currently has 300k in equity of which 200k is accessible via heloc when I get back due to prior 4-year-old bankruptcy. wife is also getting a second job to save a little extra and pay off 30k debts from college and capital improvements. she brings in enough to have it paid off in 6 months currently but doesnt work very much and is starting to get bored and nervous about money and life and needs something to do.

I'm looking to see how other people would grow what they have in my shoes. I feel like the best I could do is flip 2 hold 1, flip 2 hold 1... etc etc... or just dump all the extra money into downpayments on 150k dueplexs and make like 25000 additional income in rents a year which doesnt really seem worth the return to me....

My goal is to come home and either focus on my military career and try and make ltc in the next 10 ish years while investing in real estate or gtfo and quite my civilian job and figure out real estate full time.

best,

Marc Globensky

What's up Marc, happy to chat and see if I can help you gain clarity on this. My initial thought is that you should take some time to craft a 3-yr vision for what you want life to look like after you return. That will help you gain clarity on a lot of the "how", at least that has been my experience.

There are a lot of roads you can take, and it all comes back to what helps you get where you really want to go!

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Sean HudginsPro Member

Real Estate Agent · Chesapeake Va · Member since 2019 · 150 posts · 100 votes

2y

Some sage advice already here. During your deployments, You can also work on building your team wherever you plan to focus your investing. You have time to work out your strategy and continue your self-development. But once you get that strategy worked out and have your clear criteria set out, you can build your team so that when you do get back, you will have laid the groundwork, and you can get things rolling quickly.

Flipping is probably not the best use of your limited time on active duty. If I were to go back to my active duty time, I would focus hard on buy and hold with an emphasis on increasing equity quickly and buying in the right areas to see the most significant appreciation. Now that I'm off active duty, I focus more on income-generating activities like flipping.

[email protected]757-844-8215

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Steven WesolowskiPro Member

Realtor · San Antonio, TX · Member since 2023 · 275 posts · 42 votes

2y

@Marc Globensky, thank you for your service.

Looks like you have a huge vision ahead of you --outstanding! If I were in your shoes, pay off that $30k debts as quickly as possible. Get out of the debt zone ASAP. For properties that are NOT making you money, you may want to just flip/sell, or sell as-is to clear your debt. There are wholesalers or brokerages happy to do that for you.

Secondly, kudos to you in already having rental properties, but of course, would need to understand the current rental status on those properties, current occupancy rate, type, amount you still owe, etc.

While deployed, you will have down-time. Use that down-time to explore what areas of the market you actually want to invest in next, and define your ideal properties.

Use that down-time and study for a real estate license in your desired State. Study. Study. Study. Don't like it? Good. Study some more. You can do it.

Start small, and work your way up. Find out what you can qualify for financing opportunities on distressed properties you would be willing to out-source the renovation project and flip. REI properties are always a cyclical risk, but if you can acquire your strategy to flip/sell fast, especially with your wife's support, you can at least get something done.

All the best to you in your endeavors. -Steve

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On deployment for 2 years looking for advice on what to do when I get back

On deployment for 2 years looking for advice on what to do when I get back

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