Military guy trying to get into real estate

[Daniel Wise]

Hello! I am currently active duty military. I was recently injured on my last deployment and I am going to be receiving a $50,000 insurance pay out here in the next 3 weeks. I own a house in Southern California and I have absolutely $0 debt besides my house. My goal is to build enough residual income off of real estate in order to supplement the $3,000 a month I'll get from my disability check every month. My goal would be to be making a total of $10,000 a month so I need to add $7,000 a month in passive income. I know $50,000 isn't a lot but how can I use that money to kick off my real estate investing? Thanks everyone!

[Kevin Fox]

Hey @Daniel wise

@Daniel Wise

Thank you for your service!

I think you are very wise for sticking to your guns about investing in SD. Since you're military, you'll have VA entitlement that I would absolutely recommend utilizing for your first 2-4 unit acquisition.

With VA, you can get 100% financing on such purchases.

That $50k would work perfectly to cover the renovation budget as well as make sure you have the necessary reserves.

Please feel free to reach out if you'd like any assistance with your property search. I am always happy to help!