Active Duty Real Estate Investing

[Jonathan Cox]

my name is Jonathan after reading many comments and individuals investing in REI I can only hope to get as much feedback as I can. I'm active duty military from Baltimore. I brought my first home no money down using the VA loan. I moved to Charlotte NC and I'm currently renting that home out in Maryland. Looking to buy another in Charlotte. My goal is to purchase many residential and commercial properties along my 17 years left I have in the Military and I have no clue where to start. I dont understand the capital needed to start, or what I should be doing. I'm not looking to get rich quick, just to build a real estate portfolio to supplement my military income so I can retire at a young age. Can you help with some advice?

[Kevin Hunter]

@Jonathan Cox, welcome to BP.  I am active duty as well and have been building my real estate portfolio since 2004.  It is not as robust as I would like it to be, but I buy a property each time I PCS, so it is growing.  I have also recently, last two years, started into multi-family which caused exponential growth.  I am going to politely disagree with @Anthony R.  While his opinion is based on his experience, I believe that waiting that long will not allow you to have the financial freedom that many are looking for.  I do agree with points 1,2 and 7.  However, I have deployed six times, four combat deployments, and I haven't had issues.  I am not overleveraged, I have appropriate reserves to oppose the "ticking time bombs", and I have properly vetted PMs.  Property mangers are not all great (in fact more are bad then good IMHO), but if you put the time in, you will find the right ones for you.

Now, I have you the word "I' to much.  The real question is what are you looking for?  Long term wealth, increased month to month income, diversity?  From your post it sounds like long term wealth.  If that is truly the case, then start with education.  Read every book you can on real estate, and investing in general.  Come up with a plan regarding how to get started with goals and deadlines associated and then start working toward them.  Adjust your plan, first contact will force plan adjustments every time.  

I am happy to talk specifics with you one on one, so just reach out.  Good luck moving forward.