All Forum Posts by: Jonathan Jaime Velarde

@Carl Fischer I have been maxing out my Roth IRA for the past two years and I plan on continuing to do for the duration of my life. Thank you for the tips I will definitely look into using my Roth IRA to invest in my real estate purchases down the road.

Good Evening Friends!

I am selling my truck and will have just over $22,000 cash to invest freely. I have no debt and excellent credit. I am stationed in Washington D.C. and will be transitioning out of the military in about 9 months so I don't necessarily want to buy here and then have to move across the country and attempt to manage while in California. 

The area I will be moving to is in Ventura County where the price of real estate is pretty expensive! My college education will be covered by the Post 9/11 GI BILL and I will be living at home for free during the remainder of my college years. I estimate that by the time I leave the Marine Corps I will have about $42,000 cash and roughly $16,000 in my Roth IRA (no debt).

I am looking for some advice from people who were once in my shoes are are dealing with the same questions currently. 

Thanks!

Great job starting early! Don't buy an expensive car and build bad debt like some silly teenagers do, but rather save save save and learn and network! If you're thinking about college and would like to pay minimal in student loans consider the military active/reserve. Good luck!

Congrats! Super inspiring!

This is quite motivating! I'm still saving as much as I can every month before I get out of the military. I might partner up with my father since Southern California real estate is so expensive. I might do something similar to you where he is the bank and I do the dirty work.

Soldiers... tisk tisk tisk ;)

Call his 1st Sergeant he/she will have it handled in good time. 

Whenever you get commissioned you should try and use the VA loan to purchase a property or two at each duty station using the VA loan, occupy it for a year, refinance, rinse and repeat. I know many people in the military who have done this and when they PCS (change of orders) they simply find tenants and hire property management. It should be very low money out of pocket because you will be getting a basic housing allowance from the Marine Corps not to mention you'll be an officer with no student loans so you will be in a good spot. Good luck you! I'm currently active duty so if you have any questions I can try my best to help a brother out.

Good Evening Active and Retired Servicemen and Women!

I am looking to hear as many stories as I can of vets using their VA Home loan benefit upon leaving the military. I am transitioning in about a year and would like to get some insight on the process, how easy/difficult it is, etc.

You could try to partner up with someone who has the cash for conventional financing. You add value by bringing a potential deal to the table and they can provide the funding since the VA loan would not suffice for this type of circumstance.

Welcome!

I am from Newbury Park/Thousand Oaks, CA. I am currently stationed in D.C., but will be moving back permanently to Southern CA next summer to start my college and career in the civilian world! 

I recently found this site a few months back and have been reading books, listening to podcasts, and analyzing deals via the calculators. I have also been saving, saving, saving. I would like to acquire as much capital as possible to be able to get my first property somewhat soon after I get out of the Marine Corps. Ideally, I would prefer to househack a home in SoCal, but we will see what is available when that time rolls around.

Good luck to you!