Investing while in the Military.
Does anyone know if anyone has ever written a book about investing in rental properties while in the military?
I would but I doubt my bosses would like to read about how much time I spend on my other company. Maybe when I retire... Let me know if you do, I'd like to read about how others balance both to see if I can learn something. Tons of military folks on here that tell their stories in their posts, I like reading them.
#4 Managing Your Property Contributor
- Real Estate Broker
- Cape Coral, FL
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#4 Managing Your Property Contributor
- Real Estate Broker
- Cape Coral, FL
I've read thousands of books and even managed a book store. I have never heard of a book like this but there are millions of books out there. I don't see why it would be any different from investing any where else. You have to have a team in place for when you are in th field, deployed or reassigned. You can always partner up as a money lender/silent partner.
Let me know if you need any help. 3 hrs active and 3 national guard.
There are unique challenges to investing in the military. Sad to say that most members are not thinking past four years, let alone 20 years.
It is uncommon for people to buy property while in the military; very likely the 20/80 rule or Pareto Principle. For a season people in our career field made tens of thousands in re-enlistment bonuses, with half in a lump sum and the other half spread over the enlistment period. We noticed all kinds of E-4 and E-5 drivers with new Audi models in the parking lot. We didn't do it that way. When we were young we had a supervisor who had purchased a house at each duty station and fixed it up to rent out. That tickled the brain...and we decided to do the same thing.
When we were young, we were mil to mil and got two housing allowances, so we lived on one salary and invested the other. Once we learned about investing in property, we went whole hog into buying houses. It went a little slower when we were overseas, but we still picked up some houses while living across the Pond. We've done fixers, both those that we lived in and those that we sold or rented. And we started to keep those Golden Geese, instead of selling/killing them.
It is a great way to supplement the income along the way, as when I decided to be a stay-at-home Mom instead of wearing combat boots every day. And it won't take too many houses, paid off, to replace the other half of my hubby's salary when he does put in for retirement.
@Elizabeth Colegrove ...I believe she has a book on Military investing in real estate.
Rick --
While I have not seen a dedicated book on the topic , there are plenty of resources to help you get started. BP did a podcast (early one, in the 30s i think) with James Vermilloin about Real Estate investing while he was in the Air Force. PLus I believe there is an ASK BP podcast onthe topic.
Plus there are several current and former military members on the site, so just browse thier Forum and blog posts to get some other insights
Ken
There are a lot of military and retirees on the site. We are retirees but still work for DOD and travel around. We came back from Italy last year after doing a 3 year tour there. The military is a unique lifestyle but we all have the VA loan which is a great way to get started if you buy a multi family unit live in part of it then rent out the rest of it you can easily get started.
Good Luck. It's not easy but definitely worth it. Looking towards a good retirement with all those paid off properties supplementing the other retirement income we will have.