Newbie Military Guy Trying to Find Right Path

[Jeffrey Price]

Hello, Bigger Pockets team! My name is Jeff Price, and I've just started my venture into the real estate investment world. As an Air Force officer stationed in Tokyo, I'm in unique circumstances to begin my real estate career; however, I would love feedback from the community here on a couple items that can help me get started:

1. I'm fully committed to getting my real estate license, but unfortunately, I likely won't know where I'll be stationed next until mid to late June. Also, assuming I get a stateside location, I won't physically be back in the U.S. until October 2015. Are there any good resources that I can use to start getting my real estate license while in Japan? Also, am I really able to dive into obtaining a license without know which state I'll be in yet?

2. I do get some say in choosing where I'll be stationed next. Likely locations include: 

Colorado Springs, CO; San Antonio, TX; Tampa, FL; Fort Walton Beach, FL

Are any of these areas better than others for a newbie investor? I'm looking to initially buy a four-plex with my VA loan ($0 down!) to live in one unit with my wife and rent out the other three. We may be interested in house flipping down the road but not within the next year. The focus now is on cash flow investments from rental properties.

Answers to these should be a good starting point for now. It's hard to make plans when you're not fully in charge of your future, but I'm doing the best I can right now. Any help is appreciated! 

Thanks in advance,

Jeff

[Brian Ky]

Jeffrey, I am in the same boat as you. I currently live in Europe and plan on obtaining my real estate license once I return to the US. What I would recommend now is research online, read books, and figure out as much as possible about REI as possible. The technique you will use by living in the place you buy then move out and rent it is called house hacking if you want to read more about that. Being in the military makes house hacking a built in strategy since the government pays to move you to the next house you bought.

 Once you find out what state you will be on orders to, I would google what the requirements are to become a realtor.  I know people who are active military and do part time realtor.  Be sure to get a blessing from your commander for the second employment.  Should be easy since you work for yourself and do your own hours so there is no conflict with your military duties.  Most states you need some education to become a realtor, this can typically be completed online.  So you should be able to complete the state required education prior to your PCS.

Since you are planning on using your VA, just a heads up, the property cant be a fixer upper, but instead more move in ready. So keep that in mind, you won't be buying a place and do a big flip.

I am no an expert or very experienced in REI, so I can't give you to many details on where is the best place to buy a house. But just from my knowledge of the first 3 cities you listed you have a college and military presence in each of them. Colorado springs has army installations where a major command just moved to and the air force academy. That should be safe from the BRAC. San Antonio just merged its army and AF installation, as well as being the medical training facility for the military. Again a good protection from the BRAC. Tampa, not to sure what the story is for the military there, so research its military future. Universities are not going away, so you should be good in those cities.

Anyway, good luck on your REI adventure. If you haven't done so yet, search Bigger Pockets at Amazon and get free books on the basics.