Real Estate Agent · Dallas Fort Worth Metroplex · Member since 2022 · 12 posts · 6 votes
Hi everyone,
I have been in the Marine Corps for 10 years now and bought my first property 3 years ago. For the longest time I have been in a single income military family with very little capital to work with but a strong drive to Learn and grow every chance I get. I recently got stationed near my home town and have taken the opportunity to get my real estate license and prepare to transition out of the Marine Corps to full time RE agent/ Investor. My first home became an investment property that is making $200 in pure cash flow and currently own a second personal property.
I have been a long time BiggerPockets book reader and podcast listener yet have not implemented the strategies due to low capital excuses. I recently decided to cut the excuses, pay the yearly BP fee and get some skin in the game to force me to work harder so I can make that money back through scaling my real estate investing. My goal is to scale to 5 more homes in the next 2 years before I get out of the Marine Corps and Grow my monthly cash flow to at LEAST an extra $1,000 in pure cash flow which I know is not much for now, but I would like to keep my goals realistic for a two year timeline. I look forward to learning and interacting with all of you and seeing what I can do in the future.
Real Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
3y
Welcome to BP! It’s awesome to hear that you’re stepping out into the “field” to meet your RE goals. Many of us have to make that decision several times along our investing journey. You have a great start with your property and there are many ways to leverage it and other opportunities to grow your portfolio.
I am active duty Air Force with a couple years from retirement. I used my VA loan and military affiliation benefit to purchase four homes with three of them being a VA loan. That was my low-cost option for entry.
Keep learning and stay ready to execute. Feel free to reach out any time. I wish you all the best.
Welcome to BP! It’s awesome to hear that you’re stepping out into the “field” to meet your RE goals. Many of us have to make that decision several times along our investing journey. You have a great start with your property and there are many ways to leverage it and other opportunities to grow your portfolio.
I am active duty Air Force with a couple years from retirement. I used my VA loan and military affiliation benefit to purchase four homes with three of them being a VA loan. That was my low-cost option for entry.
Keep learning and stay ready to execute. Feel free to reach out any time. I wish you all the best.
Thank you! @Hamp Lee III I definitely need some help learning how to leverage my property and equity in that property outside of HELOC's/Cash out Refi. I actually currently have an opportunity to use creative finance to get a 9 unit portfolio. I'm trying to use a Sub-to/seller finance to acquire as many of the properties as possible. I have another thread with the details if you want to take a look and have any input, I would greatly appreciate it!
Rental Property Investor · Somewhere over the Rainbow · Member since 2021 · 1k+ posts · 1k+ votes
3y
Good deal - the good thing is the military has likely instilled a good work ethic and discipline in you - these are key traits to being successful in my opinion.
This is a fun hustle and there is tons of great free material out there which is great. I personally think the rehab strategy works well (rehabbing for 80% or so of the ARV) and finding off market deals. Takes time, but it's all a numbers and leads game. And there is nothing wrong with buying your first few deals off the MLS. Looks like your in the Dalls/FW area - great area for appreciating real estate. Find where the population seems to be moving and you'll be set up for success.
Being a RE agent will help big time in investing since you'll ideally have the support, network and be in the business to be successful. Good luck and looking forward to seeing you on the forums!
Investor · San Diego, CA · Member since 2016 · 1k+ posts · 975 votes
3y
@Mason Dylan Hernandez Welcome bro! You're in the right place. There are lots of active duty and veterans on here that invest in real estate, myself included. Keep us updated on your journey and share what you've learned with others here.