Hey guys, I'm 21 years old and was wanting to start investing in real estate. However, I've always wanted to join the military at the same time. Is it possible for me to be in the military and own a rental property at the same time? If anyone has done this please chime in.
Yes, not only is it possible, it is also very easy. Just take a look at this section of bigger pockets and you will be able to learn everything you could ever think of on how to invest while in the military
Yes, if you mean the USA military. If you're from a different country, you would need to familiarize yourself with their laws.
@Shaun Futch Hey Shaun, thanks for your reply. May I ask, how do you find time for the military and maintaining your properties? Do you have to find a good third party service? Or is there actually time throughout the military work schedule that you can go maintain the property?
@Charmy Lee You can invest while in the military. After all of your training is complete and you finally find your duty station, you can find a rental. I was in the Infantry, and in no way was it possible to leave work randomly unless it was an extreme emergency. There may be some cases that differ, but for the most part you are suppose to be working during work hours. Some other jobs/MOS' may be more relaxed. Also, there might be times while you are in the "field", where you aren't around others or even technology for weeks at a time. Your best bet would be to hire a property manager to look after properties. Also, you typically spend three years at a duty station and then PCS to another duty station. This is how some service members build their portfolio throughout the U.S.. Hope this helps and good on you for wanting to serve your country!
@Randy S. Thank you for your service and thanks for the advice. I'll be sure to keep a property manager in mind when renting properties out.
As Randy said, definitely get a property manager for your properties as the military is not going to share your time with anything or anyone. I would even suggest going to the housing office on post and asking them for who they would recommend in the local area, as they are the ones who work with property managers everyday in renting out to soldiers. Also as Randy had pointed out; the luxury of moving every three years means you can collect properties at each new duty station to add to your portfolio. Just make sure you buy with your head and not your heart for the property you will live in for those three years.
My husband and I Are a military family with five doors: one from where we previously lived, 4 where we live now. We currently property manage the four in the area where we live, and when we PCS, we will hire a property manager (really hard to property manage from another state with a full time job; requires lots of trips back to property... mostly during tenant turnover). We also have learned to do several cosmetic upgrades on our own, and (somewhat by accident) have done live in flips for three units. I like feeling personally experienced and knowledgeable with property management and rehabilitation so I know what to look for when hiring PM’s and contractors.
Yes, it's very doable. We have one rental where I'm currently stationed and two others in another area.
Of the three, we only use a property manager for one, and it's the one which gives us the most problems.
The others are rented to other military families, so we've learned our lesson and after this lease is us, we're going to have the PM target military families for that one as well.
@Charmy Lee Absolutely! There are even some thriving military communities on (and off) the BiggerPockets website. The military offers some great opportunities for investing in real estate!
Hello Charmy. It’s very possible and very likable. We tend to live off base as much as possible and buy house. Upon change of station normally every 3 years we rent it out and most likely rent it out to a military too. We repeat the process every time we have to move. We sold one from Guam because the time is right, we accumulate a lot of equity. Yes we use property manager. Currently station in Germany and we have a house in New Mexico for rent. Good luck.
@Charmy Lee There are actually some distinct advantages that military members have over other investors that can help you become incredibly successful as a real estate investor. You should listen to @David Pere's latest podcast where he interviews @Brandon Turner and they talk about military members already starting out at Level 1 Financial Freedom. If you are smart about your finances you will do very well. Good luck and let me know if there is anything I can do to help.
Hi all first, I would like to say thank you to everyone who has posted this great information on this thread. Secondly, I hope to be part of this great community and share my expirences with you all.
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