Military Wife/Real Investor

19 Replies

Hello!

For the past couple of years I've had the itch to invest.  In what?  I didn't know for awhile but now I'm certain it should be real estate. Short term goals:  Invest in my first home, invest in a rental property ( duplex,triplex)

Long term goals:  Invest in apartment complexes and more rental propeties.  

I really need some guidance, I've been reading books on books but there is nothing like advice from someone who has experienced it first hand.  How do I start ? Where are the best markets/cities to invest?  I need as much advice as possible!

Welcome to Bigger Pockets. I am in STL please let me know if you need anything. 


In the meantime here are 7 tips to help you grow your business using BP:

1. New to BP? http://www.biggerpockets.com/starthere

2. Develop your own business strategy. -- Don’t just be a “jack-of-all-trades"

3. Grow your business by developing your business plan. - Remember there is a difference between goals and a plan. http://www.biggerpockets.com/files

4. Locate and attend several different local REIAs as they’re great opportunities to network and meet wholesalers, lenders, and contractors.

5. Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

6. Spend some time every day on Bigger Pockets by connecting with “colleagues,” perusing blogs and videos, and engaging with others on the forums: http://www.biggerpockets.com/meet

7. Set yourself up to receive free alerts to be notified of subjects that interest you: http://www.biggerpockets.com/alerts
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@Brentree Bearden  welcome to BP! Congrats on taking the first step by joining the website and putting yourself out there. I'm an Air Force guy myself and started investing back in April...this community is worth its weight in gold, and has helped me a ton over the last year. 

An awesome resource that you have is the VA loan, and it's great for people who are interested in house-hacking as their first investment. I haven't used one yet, but I plan on buying a 4-plex with a VA loan whenever I move to my next base. If you want a little more info, I wrote a blog post on the topic a few months back

3 VA Loan House-Hacks for the Newbie Military Investor

I second the advice of @Trevor Ewen  ...be sure to send a message to Elizabeth Colegrove. She is a military spouse as well, and has been doing an awesome job of setting her family up for retirement while her husband is out there blowing stuff up :-)

Feel free to send me a message if there is anything I can do to help. Best of luck!

@Brentree Bearden  

Welcome. Thanks for your husband's service. Fill in the foundation below.

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

Welcome to BiggerPockets @Brentree Bearden  , thanks so much for introducing yourself to the community! Have you considered lumping your two goals (home & duplex/tri) into one purchase? You can buy a triplex to live in and rent out the other units! Just food for thought.

I think it would be great for you to check out the BiggerPockets Podcasts if you haven't already. You'll get a lot of advice you won't find in books, from people that are doing it.

See you around the site!

@Brentree Bearden 

Welcome to Biggerpockets! 

This is a fantastic community, you will love it here. I know I have. My husband is active duty Navy. We have turned this transient career into asset when it comes to investing. Thanks @Tyler Flagg     for the mention and the giggle!  @Trevor Ewen  thanks for the mention and reference to the podcasts! 

The podcast link to our story

http://www.biggerpockets.com/renewsblog/2015/01/01...

Let me know if I can help. There are lots of great programs out there like the VA loan that are great benefits. We are further than my wildest dreams, but certainly not on the road I had planned. So turn lemons into lemonade and keep you eyes open. There are some amazing resource and tools, but they won't come in any form you are expecting.

Please pm me if I can help. I am always available, and truly love the opportunity to pay it forward with another military wife!

Originally posted by @Elizabeth Colegrove:

@Brentree Bearden 

Welcome to Biggerpockets! 

This is a fantastic community, you will love it here. I know I have. My husband is active duty Navy. We have turned this transient career into asset when it comes to investing. Thanks @Tyler Flagg     for the mention and the giggle!  @Trevor Ewen  thanks for the mention and reference to the podcasts! 

The podcast link to our story

http://www.biggerpockets.com/renewsblog/2015/01/01...

Let me know if I can help. There are lots of great programs out there like the VA loan that are great benefits. We are further than my wildest dreams, but certainly not on the road I had planned. So turn lemons into lemonade and keep you eyes open. There are some amazing resource and tools, but they won't come in any form you are expecting.

Please pm me if I can help. I am always available, and truly love the opportunity to pay it forward with another military wife!

I'm so excited to PM you and learn a few things.  It's always nice to have this overwhelming amount of support from someone who is very well equipped.  I'll be messaging you soon.  I appreciate you!

Originally posted by @Mehran K. :

Welcome to BiggerPockets @Brentree Bearden , thanks so much for introducing yourself to the community! Have you considered lumping your two goals (home & duplex/tri) into one purchase? You can buy a triplex to live in and rent out the other units! Just food for thought.

I think it would be great for you to check out the BiggerPockets Podcasts if you haven't already. You'll get a lot of advice you won't find in books, from people that are doing it.

See you around the site!

I'll start listening to the podcast today.  Still trying to learn how to navigate the site !  Thank you for your advice!  Great idea!  I'm looking into, they are little hard to find!  Where should I start looking ?

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Originally posted by Account Closed:

@Brentree Bearden 

Welcome. Thanks for your husband's service. Fill in the foundation below.

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

 We appreciate your support!  Thank you for contributing such a lengthy response.  It shows you truly care!  It looks like the Podcasts are the number way I can get started on here so I'll get started with that. Oh wow great idea I never thought about student housing!  I'll look into purchasing those books.

Originally posted by @Tyler Flagg :

@Brentree Bearden welcome to BP! Congrats on taking the first step by joining the website and putting yourself out there. I'm an Air Force guy myself and started investing back in April...this community is worth its weight in gold, and has helped me a ton over the last year. 

An awesome resource that you have is the VA loan, and it's great for people who are interested in house-hacking as their first investment. I haven't used one yet, but I plan on buying a 4-plex with a VA loan whenever I move to my next base. If you want a little more info, I wrote a blog post on the topic a few months back

3 VA Loan House-Hacks for the Newbie Military Investor

I second the advice of @Trevor Ewen  ...be sure to send a message to Elizabeth Colegrove. She is a military spouse as well, and has been doing an awesome job of setting her family up for retirement while her husband is out there blowing stuff up :-)

Feel free to send me a message if there is anything I can do to help. Best of luck!

Hey there !  Thank you for your response, I greatly appreciate it.  I will definitely contact her!  I'm excited to read the blog.  You and a few others on here are truly helping me move foward, in these few short days!  Following your advice thank you !

Originally posted by @Peter MacKercher :

Welcome to Bigger Pockets. I am in STL please let me know if you need anything. 


In the meantime here are 7 tips to help you grow your business using BP:

1. New to BP? http://www.biggerpockets.com/starthere

2. Develop your own business strategy. -- Don’t just be a “jack-of-all-trades"

3. Grow your business by developing your business plan. - Remember there is a difference between goals and a plan. http://www.biggerpockets.com/files

4. Locate and attend several different local REIAs as they’re great opportunities to network and meet wholesalers, lenders, and contractors.

5. Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

6. Spend some time every day on Bigger Pockets by connecting with “colleagues,” perusing blogs and videos, and engaging with others on the forums: http://www.biggerpockets.com/meet

7. Set yourself up to receive free alerts to be notified of subjects that interest you: http://www.biggerpockets.com/alerts

 Hey!  Amazing step by step plan!  I appreciate it!  I'll get right on it, thank you for the guidance!

Originally posted by @Peter MacKercher :

Welcome to Bigger Pockets. I am in STL please let me know if you need anything. 


In the meantime here are 7 tips to help you grow your business using BP:

1. New to BP? http://www.biggerpockets.com/starthere

2. Develop your own business strategy. -- Don’t just be a “jack-of-all-trades"

3. Grow your business by developing your business plan. - Remember there is a difference between goals and a plan. http://www.biggerpockets.com/files

4. Locate and attend several different local REIAs as they’re great opportunities to network and meet wholesalers, lenders, and contractors.

5. Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

6. Spend some time every day on Bigger Pockets by connecting with “colleagues,” perusing blogs and videos, and engaging with others on the forums: http://www.biggerpockets.com/meet

7. Set yourself up to receive free alerts to be notified of subjects that interest you: http://www.biggerpockets.com/alerts

 Hey!  Amazing step by step plan!  I appreciate it!  I'll get right on it, thank you for the guidance!

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