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Updated about 9 years ago,

User Stats

111
Posts
28
Votes
Anthony Martin
  • Rental Property Investor
  • Knoxville, TN
28
Votes |
111
Posts

Future goals/plans for purchasing and growing

Anthony Martin
  • Rental Property Investor
  • Knoxville, TN
Posted

This seems like the appropriate place to me to share some things about what I'm working on and maybe get some insight on how best to get there.  

Being Active Duty military isn't the easiest job, in fact, according to careercast.com, being an enlisted member is reported as the #2 most stressful job behind firefighters.  But with all that stress, the compensation varies and comes with both benefits and downfalls.  While our paychecks aren't reflective of the work we put in, the back end benefits prove to be worth it.  But, this isn't a rant on military members and/or their benefits.  I have goals that I want to achieve.  I am proud to serve my country and take advantage of the opportunities put in front of me, but I want to do more.  I want to prepare for my future and for my family to be (whenever that happens).  In that aspect, I want to use real estate and the many facets within to help me be prepared.  

I currently own two properties in the SE and have recently put a short term goal out for myself to acquire four more properties by the end of 2018 (roughly the time my current enlistment expires). I am projecting to have enough funds for a 20% down payment on another SFR in middle GA near my other two when I return from my upcoming deployment. House #4, I am projecting to acquire 8-12 months later by saving any extra money I have and all the income from the current properties. #'s 5 and 6 will both be in 2018; one in spring and the next in winter. With average numbers, this can possibly lead to me yielding a net income of ~$1,700/mo after bills are paid. From that point, I can see at least once a year, I will have enough funds from my net income to put towards the next down payment on a property. Now, I haven't done much research past the next couple and I know the "riskier" (couldn't think of a more appropriate term) lenders will lend on up to 10 homes. So, I am currently looking for a CPA with a specialty in real estate and some type of tax adviser to help me structure my business to the best of my benefit. Living overseas also adds a small challenge as I like to have face-to-face conversations and be interactive (Skype weirds me out a little bit, but it's one of my options). Over the next couple months, I plan on e-mailing and/or calling several firms in the SE region, either via my own research or suggestions that others may give (definitely welcome input) to find someone who will fit in my team and can build a relationship to benefit everyone involved.

I am interested in creating a portfolio that will continue to grow itself from the income and place me in a positive and increasing net worth as an investor.  The growing net worth can open me up to bigger possibilities as well as networking further with other investors to find bigger and better opportunities.

So, I wanted to take the time to write something out and share with others who may also have a goal and some idea of a plan, but may not know how to get there.  Maybe we can work together and learn from each other, but writing things down helps me see a little more clearly and I know the awesome community here is incredibly supportive!

Thanks for the ears/eyes, BP!  Please feel free to ask questions or throw in some comments or suggestions; the more y'all tell me, the more I can learn and push forward!

Anthony

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