Looking for advice for a first time investor

[Andrew Cowles]

I'm currently 20 years old and active duty military and hoping to switch to the reserves at the end of this year and focus on real estate full time. I have a high credit score, 0 debt, and a decent amount of capitol saved up. My plan is to pursue my real estate license immediately upon getting out just to get some experience in real estate but my ultimate goal is to be an investor/flipper. I'm leaning more towards flipping as I would prefer the instant gratification and not having to sit on deals for years. Looking for any advice from someone who has done it already. Thank you.

[Joshua McMillion]

@Andrew Cowles

My advice is to leverage the VA loan and focus on residential multiple families for a buy and hold. My goals are aligned with a long-term buy and hold, not flipping. If you want to make this your full-time job when you get out, flipping is a definite possibility, but I would be careful. Flipping is considered earned income and is tax differently, not to mention the marketing fees you will pay, initial capital invested, and your rehab budget. 

Your young and one of the most powerful principles I can think of is time. From my perspective, to gain generational wealth, buy and hold maximizes the full potential of REI (depreciation, amortization, appreciation, and cash flow). Eventually, you will hit a tipping point, and money will no longer be a variable. I highly encourage you to shift your "instant gratification" mindset and look at the big picture. The forum below can point you in the right direction. Take the time now to map out your goals and WHY. 

Also, look at BP Episode 447

Sincerely, 

Josh