Brand New and Headed to Fayetteville, NC

11 Replies

Good morning BiggerPockets community!  I am Tony Augustyn, a brand new real estate investor, getting started on the path.  Like a lot of people, I had an "awakening" after reading Rich Dad, and have spent the past couple of months reading and learning as much as I can.

I'm currently living in Stuttgart, Germany, and I'm Active Duty Army.  I recently found out I'll be headed to Fort Bragg, NC, near Fayetteville.  I've been married for almost 10 years, and we have 3 beautiful children.  My wife is fully supportive of my desire to dive into real estate, so I definitely count that as a blessing.  She's been an amazing full time mom for the past 5 years, and will likely continue for the foreseeable future. 


We're looking to buy our first deal as a sort of live-in flip type of investment. We aren't really sure what our niche will be, but are ideally looking for a SFH for our first. I'd love to get into multi-family, starting small at first and moving into larger properties. I love my job, and it's very demanding, so time is our biggest enemy at this point in our lives. I have around 10 years left in military before I intend to hang up the hat, so our goal is to replace my income before I retire (but hopefully we can do a lot more than that.)

I look forward to being more active on here, and hopefully meeting some fellow investors near Fayetteville! 

@Anthony Augustyn welcome to BP! I'm current ARNG and my wife and I recently visited Patch Barracks when we were visiting Stuttgart. Seems like a pretty nice area. I've also heard quite a few stories of active duty people buying investment properties around each new duty station. Seems to make sense since there are consistently people rotating through that are looking to rent. 

I too got the real estate investing itch after reading Rich Dad Poor Dad. In fact I'm staring at the book on my desk right now debating whether or not I should re-read it or give some other books a chance. haha

As I'm sure you've realized, BP is a treasure trove of information and experience. Best of luck in your endeavors!

-Andrew

Thank you Andrew. Stuttgart is nice, but I’m definitely ready to come back to the States. It’s been a wonderful experience for my family.

I don’t plan to buy at EVERY base, but will buy at any one that makes sense. Fayetteville seems to be a good opportunity right now.

I’m feeling nearly inundated with information streams, which isn’t a bad thing. Currently I’m reading David Greene’s book on Long Distance Real Estate Investing. It has a ton of good information and will be extremely beneficial for me since I’m constantly on the move. I definitely recommend it.

Thank you again for the welcome!

I'm sure you're ready to come back. I know I would be too. 

You're right, buying at every base probably isn't the best option. I was recently stationed at Fort Gordon for a couple months and thought about picking up a property, but didn't feel comfortable without knowing the local market better.  

I haven't read that book yet but it is definitely on my list. I just finished Brandon Turner's book on Rental Property Investing. A lot of the information can be found on BP, but having it all laid out in a organized manner was nice. And I'm sure I'll use if for quick reference down the road. 

Are you looking to do a true flip? Or more of a value add long term hold? 

Hey Andrew. I love all the information here. I discovered the site after reading a Reddit post about an investor who had built a solid portfolio in a short time was sharing. I’m so glad he did!

I’m not sure what we’ll do in Fayetteville honestly. I’m thinking more buy and hold, but it really is going to depend on what the market can support in 3ish years when we move on. I have a few places I’d rather invest, but I’ll stick around if the numbers work. If that makes any sense?

Being military we don’t have a lot of W2 income to work with so maybe building some equity and liquidating will work well, or maybe doing the BRRR thing will work better.

Right now I just really want to get that first deal, and the second, and the third, and the.... Haha!

I just moved out of Fayetteville, was at Bragg for years.

I own a bunch of SFR there and have done very well with rentals. My first was a live in rehab turned rental and it really made me see how profitable and EASY real estate investing is.

It's been a lot more competitive lately, but still lots of room for opportunity.

good luck! you'll do great.

@Anthony Augustyn that's the nice thing too about real estate there are so many options. If the market has appreciated nicely in a couple years, you can sell. Otherwise, hold on to them for long-term cashflow! What I'm working on now is figuring out what numbers work for me and then just analyzing tons of deals until one makes sense.  

I know the feeling about wanting to get deals done! 

Originally posted by @Anthony Augustyn :

Alexander Felice I’d love to pick your brain about the area. The neighborhoods we’re looking at have definitely had an investor through. All the interiors are virtually identical. It’s pretty cool to see now that I’ve had my eyes opened up about this field.

 LOTS of investors in Fayetteville. The houses are old, and people stay a long time. So you'll see a lot of repetitive behavior like that since innovation won't be well rewarded.

My houses all get the same interior, same wall paint, same everything pretty much.

Originally posted by @Anthony Augustyn :

Andrew Fredrickson the hardest part for me right now is not jumping on something prematurely. @David Greene talks about building a team, and that’s where I’m trying to focus at the moment. Baby steps right?

 Baby steps is right! As long as we're stepping in the right direction haha. Also if you're willing to do a lot of the work yourself, a "team" isn't absolutely necessary. But I agree, having a solid "team" is super helpful. Especially if you want to scale your business model at all.

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