​New military investor in Fort Hood, Texas

13 Replies

I'm Cody from West Palm Beach, Florida. I was an Army brat, and my family moved around growing up. My wife, Carrie, and I are high school sweethearts. We got married after I graduated from the United States Military Academy at West Point, NY. I'm currently a Captain in the U.S. Army and a Black Hawk helicopter pilot.

I'll be moving to Fort Hood this month and am looking forward to the prospect of establishing a real estate portfolio during my time there. In the meantime, I'm consuming as much Bigger Pockets books/podcasts/webinars as possible!

My goal right now is to invest in MFHs to generate passive income that matches my military salary within 3 years.

Welcome to BP @Cody W. ! I just left Hood almost two months ago. I’ve been stationed there three times over the years. You’ll find plenty of MFP’s in all the neighboring cities. 

Keep digging into all that BP has. When I drove up to Knox I was listening to podcasts the whole way. Feel free to reach out if you have any questions about the area. 

@Cody W. - whatever cash flows but if I had a preference I’d go with Cove first. Each city has some not so good areas but for the most part the neighborhoods in Cove are better than similar ones in K-town. I’ve also lived in Cove twice, Killeen, and Nolanville. You can find winners in good neighborhoods in each city too. 

So allan are you saying go where the money is :) ? I guess at the end of the day it doesn't matter where you look as long as your comfortable with the area do your research and buy right you'll be good.

@Markian Sich I hope it doesn't sound too lofty! Right now I'm looking to use own money and private lending. I'm open to partners as well. Syndication seems a bit mysterious and advanced for me. I feel like maybe I should get my feet underneath me before I go for something like that.

I'd be interested in hearing more about Active Duty Passive Income by the way!

I have a buddy who I went through the police academy with that was stationed at Fort Hood. He ended up buying a quad and a duplex I believe using his a VA loan. Might be something to look into. I am assuming it would be less cash down that a non owner occupied investor loan but I do not have any experience with it.

@Cody W. start networking with brokers and agents asap...

I think getting up to 4 units with a VA Loan (even wrapping in rehab costs) would be the ultimate way to get started.

I would try to get one, refinance to conventional, and then get another one every year if possible.

Also, start looking for brokers that are willing to share leads for some smaller commercial multifamily... maybe a solid 8 unit.

Syndication isn't as crazy as it sounds... @Tim Kelly crushes syndications while on Active Duty.

Feel free to email me if you want to learn more about ADPI ;)

@Cody W. , welcome! Trust me, you have come to the right place!

There is nothing but opportunity and BP has many tools to help get you started. 

I love the fact that you’re desiring multi family right from the start! Smart man!

Also, do yourself a favor and check out ADPI, as @Markian Sich mentioned. 

It’s an incredible platform designed for guys like us who are on active duty but have goals, massive goals, in real estate, as well!

Let me know what I can do to help. 

Hello! @Cody W.

Welcome to BP, and congratulations on making the decision to invest in your future via real estate.

I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.

First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:

https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp

The second is a post that will help get you focused with your real estate investing goals:

https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciated

The last one is a post that will help you choose an “investor friendly” real estate agent.

There are many agents out there, but it’s important to choose the right one.

https://www.biggerpockets.com/blogs/5868/52724-im-new-to-investing-how-do-i-find-an-investor-friendly-agent

I love answering questions if you have any! Good Luck :)

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