Newbie that is interested in the investing.

9 Replies

Hi all!. I am in the military and want to get into real estate investing. I have been doing a bit of research. I am leaning more towards the house hack method because of how much I move around in the military. I am also looking to buy my first home so I think that this will kill two birds with one stone. Do you think that this would be the best way to enter into the world of REI or should I look into something else first? I started listening to bigger pockets about 2 months ago. Any help would be appreciated. Thanks in advance.

Welcome @Tony Arkell Hill and thank you for your service. Deciding how to enter the world of REI can be difficult, at least for me, I was all over the map. After focusing on what I wanted my goals to be and exploring a few options, we now have a solid direction. Just dive in, you'll figure it out!

If you move around the country frequently, it may actually be a good thing, because you'll be in a new market every so often and can analyze and buy deals from all different areas of the country. Plus, if you start making friends, you'll have connections all over too, which can be immensely beneficial. You might want to explore wholesaling, if you don't want to get wrapped in rehabs or rentals if you might move.

Hi @Tony Arkell Hill , welcome to BP and thank you for your service! Great community with a lot of resources here. If you have not already, check out the BP Podcast. That's how I found BP a few months ago and where I have learned the most so far.

House-hacking is a great way to get started. That's what I'm doing right now while I look for my first pure investment property. A lot of other people on the podcast have gotten started that way, too. In my opinion, house-hacking:

1) Helps you build up equity via rent payments (value you will be able to extract when you sell your home)

2) Provides you with more free cash per month (since you aren't covering the mortgage by yourself - ideally you will live for free or live for cheap)

3) Gives you some experience of dealing with tenants and all of the challenges associated with that in (what I consider to be) a lower risk environment.

One of my coworkers is a veteran and got started in real estate by taking advantage of the VA Loan program. When he moved, he kept his previous property as an investment and still holds onto it today.

Something to consider is your market. I just looked at Reform, AL, and it seems like it's a smaller area (I'm pretty familiar with that drive between Birmingham - Starkville). Is Reform where you are based? If Reform looks to be challenging as an investor, especially finding something you can house-hack, you are pretty close to Tuscaloosa, Columbus, and Starkville, so those might provide additional options.

Hey @Tony Arkell Hill

Thanks for your service! I would be happy to speak with you and tell you a little bit more about my experience (most being in commercial) if you are interested. Just send me a PM.

When I started out, I did some land flipping. @Seth Williams has a podcast (BP number... 30 something...) he also has website and course REtipster.com. I think it is a great way to start and his course will literally teach you everything you need to know. I would suggest checking it out.

Let me know if I can help. Good Luck!!

@michael Ehmann Thanks for your quick Response. Reform is my home town but i don't live there currently. I Just thought IT would be easy to manage since i have a Lot of Family there to keep an eye in Things. I am currently Out of the country now but will be back in the states real soon. Also thanks in the bit about the VA loan. I will look into that AS well. Do you know of any BP meet ups in the area.?

Thanks to you all.  Your kindness and advise are early Christmas presents truely.  I will keep on researching and take what advise you all have giving to Heart.  I am trying to be  a Student to the Art of investing.

Originally posted by @Tony Arkell Hill :

Hi all!. I am in the military and want to get into real estate investing. I have been doing a bit of research. I am leaning more towards the house hack method because of how much I move around in the military. I am also looking to buy my first home so I think that this will kill two birds with one stone. Do you think that this would be the best way to enter into the world of REI or should I look into something else first? I started listening to bigger pockets about 2 months ago. Any help would be appreciated. Thanks in advance.

 Hello and welcome! Best of luck to you!

Hey @Tony Arkell Hill and welcome! You are doing the right thing by listening to BP and jumping on the forums to ask for help. I did the same exact thing a couple months ago and it has helped tremendously. I would continue to research, listen, and gather as much information before diving in. You can never learn too much, but don't fall into analysis paralysis. I've done one deal and I have learned more from that one deal than the 3 months of listening to BP and reading books. Brandon and Josh preach that too. Take action after you've done you homework. Good luck!

-Parker

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