All Forum Posts by: Hamp Lee III

You’re living in the Field of Dreams…

“If you build it, they will come.”

Welcome to BiggerPockets!

I’m active duty Air Force…

There’s a lot to consider when purchasing a home, but consider the benefits that will come for building long-term financial wealth.

Your “part” is to devise a great plan, run your numbers, have a great team, and take calculated action toward your goals.

Tomorrow can always bring unknown challenges, but as you know in the military, we do what we can today to mitigate those risks. That’s your part.

If buying is cheaper, do that. 

Just make sure your decision is backed with facts and not emotions.

Real estate investing is a numbers game...it is also a long one.

Start small, but take action.

Don’t do too much too soon. Take your time. Build slow, but sure.

You got this.

If you have any additional questions, don’t hesitate to reach out.

I wish you all the best.

There are three "STR locations" in San Antonio:

Around the three military bases (one has the largest military medical facility in the Department of Defense)

Downtown - which is also close to the military medical facility 

One of the military bases is the basic training for the Air Force, so there’s a weekly rotation of visitors.

Let me know if you want to research this market further.

I wish you all the best.

From an investment standpoint, it's great for fix and flips. If you're looking for a turnkey property, it may be harder to cash flow if you're not purchasing a multifamily, often three or more units. Now, it's not impossible, but you'll need to be flexible and patient. This is for a LTR. Numbers are different for STR and MTR, but it's good to make sure properties can cash flow as an LTR.

Check out the "Find an Agent" link in the menu bar to locate a great investor-friendly agent. 

Outside of what some might post here, a local agent will be a great start for investing in Memphis.

I wish you all the best.

I recommend selling it. If the property doesn't cash flow as a LTR, what happens if the other strategies don't work?

If you work the numbers, how long will it take to recoup the money you invested in getting your home converted...and do you know if you're zoned for a conversion? You'll need to check with your local zoning commission.

The juice might not be worth the squeeze in this instance.

It may be best to sell and purchase a primary home with your VA loan at your new duty station and an investment property with the proceeds from this sale (depending on the amounts of course).

I'm active duty Air Force. If you have any further questions, let's connect for a call.

I wish you all the best.

I agree with @Najma Osman. If your current home will cashflow as a LTR, getting a HELOC and potentially purchasing two additional homes would be great. Of course, you'll need to work your numbers.

I'm in the same situation, but my homes are not in a market that appreciates as fast. It's like watching paint dry with the appreciation, but they cash flow well, so no complaints.

I wish you all the best.

Welcome to BiggerPockets!

I also recommend attending local real estate investor meetups where you can learn what other investors are doing and where they are investing out of the city or state.

I wish you all the best.

@Joel Allen - Thanks for the mention!

@Kevin Cullen - Please let me know if you're interested in the San Antonio market. I would love to jump on a call with you.

I wish you all the best.

I'm active duty Air Force and I appreciate what you're doing.

To get started, I would tell you to find a location, most are in restaurants with an open area for meeting.

Speak with the management and let them know what you're doing and if you can reserve an area (if they don't already have a process).

Advertise it here and on Active Duty Passive Income (ADPI). Talk to everyone you know about it.

Actually, make sure ADPI doesn't have a group there already...

Find real estate investors that can speak at your events. Build a yearly calendar.

...then go for it!

I hope this helps.

If you have any specific questions for me, please don't hesitate to reach out.

I wish you all the best.