Military investors

[Jonathan Gonzalez]

Well I suppose I'll make this my introductory post as well as my newbie one. :wink: Well it wasn't until recently that I've looked at investing in real estate. I'm in the military, active duty, stationed in Las Vegas. My questions are, for any of you that are in my position, how did you first get started? I'm looking at getting into a "mentorship" type program from a few places, but due to my intense training for the next 8 months I've decided it's best to get into that program after I finish my training. Is there anything you'd recommend to study up on or look into that will allow me to build up my knowledge and possibly my experience for now? Thanks! This forum seems like one of the best that I've seen. I've been lurking for a while, I started when I looked up Cameron Dunlaps "iFlip" program a few weeks ago and been reading here since.

[John Depew]

I see these posts are quite dated, but I'm assuming there are other military folks out there may be clicking on this topic looking for similiar advice.
I've been active duty for 20 years and am retiring here in a few months. I too have had this dilemna, a passion for real estate investing and conflict with military deployments etc. The safest advise I would give any one on active duty would be get your own finances under control, save your money, get educated on real estate through affordable sources, and wait until you get out of the military. Of course if you're like me you won't be able to. If you do start your investing while still in, you have to plan for being deployed or maybe just being to busy to work your investments. Have a hands off plan and make sure you can afford any risk you're taking. I bought a house in Florida while stationed in Germany. I actually closed on it from Germany site unseen. I bought it in 1999 and still own it. Its still a good investment for me. I tell you this not to encourage you to do something like this but just to make the point it's possible. I would say what was key to my success though was having a person I knew and trusted in Florida as my representative and eyes on the ground.
As far as gurus and Cameron Dunlap, I was always opposed to purchasing these programs and probably took alot of hard knocks doing things on my own. I recently began looking into these programs as a way to have a system my wife could work. I have reviewed Cameron Dunlap recently and would say his system appears so far so good. I like his internet based management using websites, outsourcing advice, detailed line by line contract overview, and many other things he offers. Of course his is not the only system out there and he may not be the best. You have to assess the programs your interested yourself based on affordability, level of knowledge, and what avenue you want to pursue. Whatever program or system you purchase if you do, make sure you're also talking to local professionals and other investors. Compare what you're learning from a program to your real local real estate market. There are and will be differences that can cost you money. Cameron deals in the wholesale business which if you're active military may work the best for you because at least with his system you can work it mostly over the internet and hopefully sell quickly so you're not stuck with houses. I'm not saying that is best for you, again you have to make that call based on your circumstances. If you're going to buy and rent out then you'll need a good management company if you get deployed. If you "fix and flip" you might get stuck with an unfinished house and orders in hand to leave right away. A lot to think about I know. Best advice again, if you are able to do it is wait until you get out. Focus now on your military career, your family, and your savings.