All Forum Posts by: Aaron Hale

Hi, @Monique Stewartand welcome! It’s great to hear you’re getting started. Any idea where you’d like to start looking? 

Welcome, @Jeffrey KofiI agree. Begin with the end in mind. What do you want to accomplish and then begin to determine what strategy(ies) you want to employ to get there.Best of luck and looking forward to reading future posts on your success!

BTW, I also attended UMUC. ...it’s its satellite campus in Italy. 

@Allie Jones Welcome to  BP!I got hooked first by the podcast, then found the books. I definitely recommend you check them out 

@Kyle FalkensteinI agree. If REI is your chosen endeavor after the Corps, work on building your real estate skills and a great team with subs, agents, attorneys, etc. If you want to run a construction company, then study construction management.

Right now your best bet is to build your knowledge base and your network. Both you can get right here. Try looking for meet-ups in your area. I’m sure Jacksonville will have a few.

Also, don't forget that you have one of the most powerful tools for getting a started available to you, the VA loan. you can qualify for a zero down and, I think, 3.25% 330yr fixed on a 2-4 unit multi. House hack your way to real estate world dominance.

Thanks for your service brother!

Aaron

US Army SSG EOD (Ret) 

Welcome, @Corey Kenney Keep that passion! Looking forward to your future posts on the way to REI success.

@Eric Chaussewhile there’s no better way of getting to know your area than beating the pavement, here are a couple other sites that may help you get a broader picture:

City-data.com

Neighborhoodscout.com 

Welcome, @Vernon Kittrells to BP. Start scouring these forums. There are plenty of wholesalers looking for investors here. I’d also recommend going to the events area and locating as many local meet-ups as you can. They are a great way to build your network of agents, wholesalers, property managers, lenders, and contractors. 

I’d also recommend linking up with @James Wise. While most of his deals are listed, his videos are a great source of information and his website is full of information on the Cleveland area. 

@Trevor Morgan There are of course other methods than house hacking with a FHA loan such as wholesaling, but few that require less work or money to get started in REI.

You can continue to study the topic so that you will be able to better explain and hopefully convince your wife of this or another plan. For example, you would only need to occupy a small multi-family for a year or two before you could refinance, move out, and place a tenant in that last unit. 

@Kenneth Kilgore Welcome! I agree wholeheartedly with @Jim Cummings. Now is the time to prepare. Get your finances right, pay down debt, and save. In the meantime you can study. What REI strategy fits your goals best? Where do you want to begin finding deals? Who will you need to assist you in your endeavors?

Best of luck! A greenhorn is better than a dude! 

Thank you for your service. I regret not starting my REI journey earlier while I was still active duty.I absolutely recommend getting started soon.

Let me ask you; Do you want to remain where you are currently stationed? Would you rather go back to your home of record or possibly your wife’s hometown? It really doen’t matter all that much except for that’s where you should start researching and building your network.

Right were you are is terrific just because you are located near a military installation. Off-post/base BAH is usually reserved for E-5 and above which will better ensure a respectful tenant. ...if not, you’ll have their CO’s contact info. BAH is a solid guarantee the service member is good for the rent and you can look up the exact rates any applicants will be getting online.

Whether or not you plan on staying where you are, you can purchase a 2-4 unit multi-family with your VA loan, 0 down and a very low interest rate. You and your wife could house hack, live in one unit and let the other tenants pay for your monthly mortgage and put some cash in your pocket.

Even if you do choose to move away or renew your contract and PCS, you now have time to start finding a good property manager to handle the day to day operation of the property. As your portfolio grows you may want to hire a PM anyways to free you up to continue finding more properties.

You have a lot of choices and a lot of studying ahead, but it’s all good stuff! Dig into the forums and keep asking questions. All the best!

Aaron