Quote from @Joshua Bruski-Hyland:
Hi All,
My name is Joshua Bruski-Hyland and I would like to get into the Real Estate investment business at a greater capacity. I am an Active Duty Air Force service member currently living in Tacoma, WA. I've already purchased my first property (primary residence) and have been making upgrades while I live there. I have a few more big things to take care of, namely HVAC and a cosmetic kitchen restoration, before I buy my next piece of property. I may need to move in the next few months but am awaiting the word of my Commander. If I stay another year, I will get my Real Estate license and look into investing in another property. I haven't yet decided on my strategy for the next property, but it will likely be a BRRRR or 2/3/4-plex. I would prefer the latter, but there is basically nothing within a realistic commute to my work.
While my job has some great advantages, there are some disadvantages that I will need to overcome. The first one is simply time. My job at times can be relaxed but also incredibly demanding and unpredictable at other times depending on what is happening in the world. I have many times been called to fly across the world and be gone for weeks or months with a day's notice. The second is the lack of predictability. Like I said, I may be moving in the coming months, but I have no idea when and where I am moving. It can be hard to plan a long term strategy when you have little control on where you are going to be assigned and you don't get a lot of time to learn the market in person. This can also present itself as an opportunity though in that you're exposed to a lot of potential markets when you move and there's an incredibly dependable job backing you. Investment around Military Installations can also be very dependable. They are likely to weather a storm better because of the consistent demand service members provide.
I hope to continue learning from the wealth of knowledge and great members here at BP. If you would like to connect or want to know more about investing in the Military, please feel free to reach out. Sko Buffs!
Welcome to BP, thank you for sharing your background!
With the nature of your employment requiring you to leave at a moments notice- the most important thing you need is a team.
Agents, Contractors, Attorney's, Property Managers, Inspectors, and more. Building your team in an out of state market requires you to find some of the local agents in areas that you may consider investing in. Typically by connecting with a local agent in that market, they will likely be able to point you in the direction of who to reach out to, to finish building out your team. Once you have all the players on your team, you can start investing knowing that if you were to walk away, you have legal support, property managers, funds, and everything else with a system in place to support your absence. It's not really possibly to create a 100% hands off real estate business, but it doesn't require massive time investments IF you are able to have a great team who has your back.
You mentioned military installations, I am an agent in NC, living in Fayetteville right next to Fort Bragg, and a couple hours away from Jacksonville and Camp Lejeune, would love to connect with you and continue the conversation if you are potentially interested in learning more about those areas.
Cheers!