Military or civilian investing

Buying & Selling Real Estate
6yFollow

Military or civilian investing

Account Closed
Lender · Clearwater Florida · Member since 2019 · 31 posts · 36 votes

Right now I'm in the military so I have multiple opportunities in the future. The next place I have orders to is in Southern California where I will be for 1-2 years. 

I am looking for some guidance on what others would do. 

1. Stay in the military. Keep a steady job and have multiple properties in multiple states?

2. Get out. Go to college? What are some recommended degrees that apply to real estate and finance?

3. Get out and push towards being a real estate agent?

Current locations to invest would be:

1. Invest in Bend Oregon. My recent post explains so pros and cons.

2, Invest in California.

3. Invest in Las Vegas.

4. Or the last option which be to invest long distance how @David Greene's book explains.

I save 50% of my income, don't have any debt, and can go to college with my GI bill. 

Any advice would be much appreciated.

0Reply
47 views

Most Popular Reply

Charlie CameronBusiness Member
Investor · Niceville, FL · Member since 2017 · 451 posts · 366 votes
6y

Hey @Account Closed!  Just a few thoughts for ya:

  • You don't need a college degree to be in real estate.  GI Bill is good - I have a hard time understanding why people go get additional student loans just to pay more back.
  • You don't have to be a real estate agent to invest in real estate.
  • I'd also caution against just jumping ship to be a full time agent when you can do it part time (me) and transition to it.  Then you can figure out if that's what you want to do before you bail out of the military.
  • Duty locations will vary greatly in what they offer for real estate.  When I was stationed in Ohio I bought 24 apartments because it was affordable.  Now what I'm in Florida Panhandle (Eglin/Hurlburt AFB, Destin), prices are higher and multifamily is fewer.  So I pivoted and got my license to help other military families and investors in the area.

Go out there and crush it!

    The RAL Room Assisted Living Mastermind
    WebsiteView Page
    5Reply
    See this reply in the discussion

    14 Replies

    Jump to latestLatest
    • David Pere
      Rental Property Investor · Springfield, MO · Member since 2016 · 1k+ posts · 890 votes
      6y
      It is possible to own multiple properties in just one location while in the military. Buying a home at every duty station is unnecessary, and not always a good idea. Honestly, you need to just write out the pros and cons for all of those options and see what comes out on top. However, you need to factor in which you prefer as well...that is too big an ask for the internet to answer, but I will say that my plan is to transition into the reserves after this contract ends (after 13 years active duty). There are plenty of options for you to set yourself up for success with the military!
      3Reply
    • Account Closed
      OP
      Lender · Clearwater Florida · Member since 2019 · 31 posts · 36 votes
      6y

      @David Pere

      Thanks David! 

      Why might it be a bad idea to buy a property at every duty station?

      Ill write out all the pros and cons. I know there are a ton of other factors in life that only I can solve for myself but hearing what has been a positive experience for others helps me too.

      Can I ask why you're transitioning to reserves?

      0Reply
    • Charlie CameronBusiness Member
      Investor · Niceville, FL · Member since 2017 · 451 posts · 366 votes
      6y

      Hey @Account Closed!  Just a few thoughts for ya:

      • You don't need a college degree to be in real estate.  GI Bill is good - I have a hard time understanding why people go get additional student loans just to pay more back.
      • You don't have to be a real estate agent to invest in real estate.
      • I'd also caution against just jumping ship to be a full time agent when you can do it part time (me) and transition to it.  Then you can figure out if that's what you want to do before you bail out of the military.
      • Duty locations will vary greatly in what they offer for real estate.  When I was stationed in Ohio I bought 24 apartments because it was affordable.  Now what I'm in Florida Panhandle (Eglin/Hurlburt AFB, Destin), prices are higher and multifamily is fewer.  So I pivoted and got my license to help other military families and investors in the area.

      Go out there and crush it!

        The RAL Room Assisted Living Mastermind
        WebsiteView Page
        5Reply
      • Account Closed
        OP
        Lender · Clearwater Florida · Member since 2019 · 31 posts · 36 votes
        6y

        @Charlie Cameron


        You make a great point about college and student debt. A lot of soldiers are wasting their Gi bill on degrees online that they aren’t going to use. 

        The most important thing that you opened my mind to is the idea of not just jumping ship. It’s a lot harder to get in than it is to get out. I can start as a part time agent like you, then later on there will always be the option to transfer into a full time agent. 

        Thank you very much! 

        1Reply
      • Sean McDonnell
        Real Estate Agent · Surf City, NC · Member since 2017 · 648 posts · 597 votes
        6y

        I did 7 years active duty and just transitioned to the reserves in May 2019. I am working on building my real estate business full time now and it has been a blast.  I would definitely recommend at least staying in the reserves. The benefits are very solid, you still get to put on the uniform regularly, and it is a pretty good Plan B in case things in real estate dont work out as well as I hope.  While active duty, it is easy to look at other people achieving massive success in real estate. I would just caution you to do your due diligence because the grass on the other side is rarely as green as it looks. 

        Generally, I think veterans are well suited for a career in real estate because you need to be a self starter, detail oriented, driven person to be successful and most vets fit that build.  You seem like you have great financial habits already and have made good investment decisions so far. Please keep us posted and let us know if there is anything we can do to help! 

        2Reply
      • Stetson MillerBusiness Member
        Real Estate Broker · Fort Myers, FL · Member since 2019 · 576 posts · 423 votes
        6y

        @Frank Lesowske Not that I'm suggesting this is the best path for you, but this is what I'm doing. After realizing I wanted to invest in real estate long term, I had already started a bachelor's degree and I'm now about to graduate with that degree. Another 2 years and I'll be graduating as a PA which will allow me to work 3-4 days a week making $120k+ a year right out of school. I have my real estate license now to work on helping other investors part time up until graduation when I can really start focussing on my own investing. I figured just pushing through for the next few years to have a great basis for raising capitol would make it much easier starting out investing for myself rather than starting on an EMT salary. If you use your GI Bill right, it would be easy to pick up a degree that could open the doors to a high earning job for you. Get your real estate license now (get a feel for the field and learn from others along the way, make as many connections as possible, maybe invest in a few properties if you're sure they won't slow you down in the future, plus make some cash on the side helping other investors) that's the easy part and fairly inexpensive, finish that degree (ideally you can do this completely online), then work in that high earning field to continually fund your own real estate deals with your own cash. Once you're able to replace your salary with your real estate income, you're set!

        [email protected]850-259-2910
        Stetson Miller Realtor545 Reviews
        View Page
        2Reply
      • David Pere
        Rental Property Investor · Springfield, MO · Member since 2016 · 1k+ posts · 890 votes
        6y
        @Frank, because that sets you up for failure. You should buy a house when it is an investment that works, and you plan to hold it...not just because you got stationed there. I have lived in plenty of locations where buying a home would have been a TERRIBLE investment, especially depending on where you are in the market.
        1Reply
      • Jayden Grissom
        Fort Riley, KS · Member since 2019 · 20 posts · 4 votes
        6y

        @Frank Lesowske, If you’re looking to be an agent

        My best advice would be to save as much capital as you can while you’re in. Make sure you pick a state you know you’d like and take the course for that state, study up so you kinda have an understanding on the business. I’ve heard it’s all about experience though, make sure you devise a good plan around it so when it comes time you can execute!

        1Reply
      • Account Closed
        OP
        Lender · Clearwater Florida · Member since 2019 · 31 posts · 36 votes
        6y

        @Sean McDonnell 

        Thanks Sean! Its always great to hear the paths that have worked for service members once they transfer from active duty.

        I have never looked into reserves that much but I keep hearing more about it. At the end of my contract Im going to transfer to reserves and then either go to college or become and agent. That would be a better transition instead of just getting out. 

        I look forward to talking later in the future when the time comes to get out! Thanks for the help.

        0Reply
      • Account Closed
        OP
        Lender · Clearwater Florida · Member since 2019 · 31 posts · 36 votes
        6y

        @Jayden Grissom

        Thats true its a great opportunity to save. I save more than 50% of my income.

        Your right on picking a state that I like too. Some places would be good investments for cash flow but people also have to live their lives where they want to invest.

        0Reply
      • Account Closed
        OP
        Lender · Clearwater Florida · Member since 2019 · 31 posts · 36 votes
        6y

        @David Pere

        Thats true. Location and market is everything. 

        I probably wouldn't invest in California right now because the numbers just don't make sense. How do you determine whether or not you want to buy where your stationed? I would imagine there has to be somewhere within 50 miles that would make a good place to invest? 

        Thank you!

        0Reply
      • Account Closed
        OP
        Lender · Clearwater Florida · Member since 2019 · 31 posts · 36 votes
        6y

        @Stetson Miller

        You sound like a man with a plan, I like it!

        College does open up a lot of doors that would provide me with a steady job to transition out of once im financially free. Or if you like what you do then you could suffer for a while and stack up on cash from work and also do real estate. It sounds like you'll be making great money as a PA. 

        College will definitely be an option in the future when I decide which way I would like to take my career. 

        Thank you for the feedback!

        1Reply
      • Justin Tahilramani
        Rental Property Investor · Fayetteville, NC · Member since 2014 · 884 posts · 670 votes
        6y

        @David Pere - I agree. You really want investment homes in a bunch of different states? Dealing with multiple PM companies, tax returns in every state with income tax, etc.... No thanks. Economies of scale.

        1Reply
      • David Pere
        Rental Property Investor · Springfield, MO · Member since 2016 · 1k+ posts · 890 votes
        6y
        @Frank, there are a couple of factors I look into. It depends on the specific scenario, I've written an article or two here on BP about buying vs renting. I would link to it buy my work computer is giving me issues haha. Let's connect
        0Reply
      Join the conversationCreate a free account to reply, vote on answers and follow this thread.
      Log InJoin for Free