Newbie from All Over (Virginia Beach, Charleston and Hanford )

Newbie from All Over (Virginia Beach, Charleston and Hanford )

Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes

I am a Newbie who invests in all parts of the United States due to our unique opportunities. We have had the opportunity to exam many different areas by directly living in them. We have been renter/buyers and area newbies. Therefore we have been able to see the areas in many different lights.

My husband is a Naval Officer who has been station in 6 different cities (5 unique states) in 4 years. I have had the opportunity to join him in this unique opportunity. Real Estate has been a passion of mine since I was 17. In the beginning we were passive as we did not have the fund to invest. We still studies and exam each area while learning from others ( both their positive and negative experiences).

In the past 18 months we have bought 4 houses. 2 were pure investments and 2 were personal properties. Currently one personal property is being rented out due to a military move (the reason for the purchase second personal property). We buy all houses (even if they are currently personal property) as if they were rental investments. We evaluate each area we have the opportunity to visit/live in, to examine it's potential for investments. As we move so much for my husbands job, living in the same town is not a requirement. There is a good chance we will not live there in 2 years even if it is currently know as "home".

So far we have been successful. All of our houses currently cash flow and vacancies/turn over have not been an issue. We have bought turn-key to total cosmetic guts. I manage all the houses myself. I have an infostructure in every place to assist me as my "eyes". My goals are

2013- 3 more houses
2014- 3 more houses (maxing out 10 allowable mortgages)
2015-2029- own 25-55 houses depending on market conditions and opportunities
2029- Retire on the rentals cash flows and my husbands military pension

I have really enjoyed following your posts these past few months. I look forward to becoming an active participants while continuing to learn from everyone knowledge and experiences. Reading the forums has already allowed us to overcome some road blocks. I look forward to having the opportunity to "pick" other peoples brain for ideas and wisdom.

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  • Investor · Nipomo, CA · Member since 2013 · 42 posts · 9 votes
    13y

    Thank you for your introduction. I too was in the Navy for 10 years and it was a good opportunity to live in different parts of the country. There are always good rentals around Naval Bases. I was station in Norfolk for 4.5 years and I took that opportunity to buy a couple rentals back in 2004.
    Looks like you have some great goals ahead of you.

  • Specialist · Orange County, CA · Member since 2008 · 2k+ posts · 623 votes
    13y

    Hi Elizabeth Colegrove,

    Welcome to BiggerPockets!

    It's nice to see that you've set some goals, and are taking action to achieve them!

    Moving around has given you a unique perspective on real estate and you've probably come to learn that every market is a little different, with some markets being better than others. (As the saying goes, "all real estate is local.") And you clearly know that you don't have to live next to your income properties.

    Feel free to "pick" our brains. There is lot of talent in these forums, and we're happy to help out.

    Continued success!

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    13y

    Hey Elizabeth Colegrove welcome to BiggerPockets! Looks like you've had some great success already, and your goals I think are awesome! Definitely jump in and ask questions (or answer them!) anytime!

    Also - be sure to set up your Keyword Alerts!

  • Antelope Valley, CA · Member since 2013 · 27 posts · 4 votes
    13y

    Welcome! Great way to take advantage of the opportunities from a Navy lifestyle. I grew up in a Navy family myself and even lived in VA beach. It would be nice if my parents considered this. Best of luck on your rental goals!

  • Wholesaler · Washington, D.C · Member since 2011 · 449 posts · 94 votes
    13y

    Welcome to BP, Elizabeth Colegrove! Looks like you won't just be learning here but will be contributing alot to those who want to know more about 'buy and hold'.

  • Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    13y

    Mike Nelson I am happy to help. We personally have found that our lifestyle lends best towards the 'buy and hold' style. I love this website because I have had the opportunity to learn about other styles that I have not thought of.

  • Involved In Real Estate · Member since 2013 · 12 posts · 1 vote
    13y

    Hi Elizabeth Colegrove

    I am an agent in the Hanford/Lemoore area. Let me know if I can help you track down a deal on another rental in this area.

    Ronnie Wrest

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