Hi im in the military and im moving constantly. How do have any ideas on buying and renting homes in another state or me not physically being there. Can you give me tips on how to manage and keep flowing income. Thanks
Welcome to Biggerpockets!
What you are describing is EXACTLY what we do. We are also buy and hold investors with full time jobs Our speciality is class A rentals that we self-manage long distance. We got started and still acquire houses through personal properties turned rentals as we are very transient (Navy). While we still have moments we have had to get really good at our systems and efficiencies. Now that we have a strategy and business model it has been going very well. This has allowed us our W2 incomes to leverage the real estate. We live off of one salary and invest the other. Our goal is early retirement in 15 years with a military pension and the cash flow from these houses. Our goal is also 10 houses. We are at 5 and hope to obtain another 3 in the next 6 months.
This is a great site because there are tons of different "Strategies". We are buy and hold, others are wholesalers, bird dog, flippers etc. Look around the blogs, forums and listen to the podcasts. If you see a post you enjoy check out the persons signature. Many of us including myself talk about our strategies, styles, niches and business model on our website. So definitely check that out as it is an amazing additional resource. For example, my blog is about while working full time, buy and hold investing, 0% Down Rentals, Personal Properties turned rentals, Long distancing investing, self-managing 3,000+ miles away. If you enjoy the blog I recommend you sign up for the free newsletter as I have tons more resources coming online every week :)
Look forward to seeing you around! PM me if I can help! :)
Hello @Shepard Solomon
I am in a similar position, and moved quite alot over the past 20 years . I currently have 4 homes (4 different states) that I rent out that I used to live when I was stationed at that particular base. Couple of tips I picked up
Use the time you have on location to scout / vet property managers. View how they list properties and what there maintenance procedures are .
When buying , view the property through the eyes of your prospective tenants. that means schools, security and commute , usually to and from post
your main "competition" is from On Base housing, so you can check out to see what the wait times are for families , and what are the amenities they offer on post residents
get to know your neighbors so they can act as a second set of eyes after you leave
Have some others if you are interested
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.