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Updated over 5 years ago on . Most recent reply

User Stats

59
Posts
20
Votes
Jeremy Bourgeois
  • Contractor
  • Putnam, CT
20
Votes |
59
Posts

Looking for advice from experienced investors

Jeremy Bourgeois
  • Contractor
  • Putnam, CT
Posted

Over the past 6 months or so I’ve become very interested in the real estate business. At the end of this year my term with the Marine Corps will come to an end and that is where I wanted to start my investing journey. In preparation I have paid off my debt, saved around $25,000 and started reading up on the subject. However, once I leave the military I plan on being a full time college student and don’t foresee myself having a lot of extra time on my hands to be able to devote to a rental property or house flipping business, which were my original ideas to start in. So I’ve been thinking of hold off it until after my schooling is complete. Any advice would be highly appreciated.

Most Popular Reply

User Stats

408
Posts
209
Votes
Simcha Davidman
  • Rental Property Investor
  • Baltimore, MD
209
Votes |
408
Posts
Simcha Davidman
  • Rental Property Investor
  • Baltimore, MD
Replied

Welcome @Jeremy Bourgeois and thank you for your service.

If I could do it all over again, I'd buy a small multi-family (2-4) units with a FHA loan and house hack right from the start. And as soon as I could afford another down payment (after 12 months), I'd move and do it again, keeping the first one. You might have other, better financing options as a veteran.

When you analyze a deal, include property management expense, so it can be relatively hands off if you want. And if you have time and the inclination, you could self-manage to "enhance" your experience and pay yourself the extra.

Sounds like you're on the right track. Good luck!

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