BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
Over the years we've seen a huge number of active military personnel here on BiggerPockets and one of the biggest questions has always been how to invest in the US while serving.
We just completed what we believe to be a pretty comprehensive guide to help these folks out:
Please check it out and if you know someone who is serving, do pass this along to them. We want to do what we can to help educate this important group of individuals who are doing their part to protect and serve the rest of us.
Rental Property Investor · Tampa, FL · Member since 2013 · 404 posts · 421 votes
12y
Brandon,
Great info. I'm still on active duty in California and I’m a buy and hold investor. I currently own and manage eight properties from condo's to a fourplex. I recently bought a turnkey home in Memphis as my wife is from there and spends several months a year in that area.
I will say it is a lot of work so anyone, not just military members, need to be prepared the amount of time learn the business. If you manage your own properties you need to be ready for the calls in the middle of the night or on the weekend for the flooded bathroom or any other issue.
I purchased my fourplex in 2000 as a means to increase my income at the time with a goal of $1500 a month in retirement income once I paid it off. I have slowly added to my profile since.
For the most part I really enjoy working with tenants and the properties. There are times when I have to go away for duty or deployment so the wife steps up and schedules the repairs if something comes up. The longer deployments can be an issue. I hired a property manager for most of my properties during my first deployment to make it easier on my wife. She has been able to manage the properties during my follow on tours/trips. Two things that have helped when I’m gone have been Skype and this great website out there I use called biggerpockets.com. We can ask questions there or to my colleagues.
To sum it up you can invest while in the military. Your job may determine how much time you can dedicate to investing but it is possible. I highly recommend that my fellow service members start educating themselves first then look for homes in the areas around their bases as there are always other service members on looking for homes and each base has a housing office.
Skip the get rich in a weekend seminars and download the Ultimate Beginner’s Guide on BP and listen to the podcasts. Look for other quality educational materials also. There is always something new to learn.
BP, again, great articles and I appreciate all that everyone on here does. There is always someone will to help out and answer questions. Hopefully this isn't too long and I didn't bore anyone.
Contractor · Chebeague Island, ME · Member since 2013 · 68 posts · 14 votes
12y
Josh, Great post, and very timely. I would hope after seeing and hearing the story of Sgt. First Class Cory Remsburg during the State of the Union speech last night most americans will have a better appreciation for the sacrifice military personnel endure so the rest of us can pursue "the dream"
Thank you Cory and all the other military personnel for your service to our country.
Real Estate Investor · Abu Dhabi, UAE · Member since 2010 · 48 posts · 16 votes
12y
Josh,
Thanks for taking the time to do this. Investing in RE can be especially challenging when your job moves you around every 2-3 years, often to different states or even countries. But on the other hand, it can also bring great opportunities.
Fayetteville AR · Member since 2014 · 5 posts · 5 votes
12y
Thanks for the guide, I was actually considering asking some of these questions on here. Deployed right now but made the decision to start getting into real estate as soon as I get out, so I've been trying to learn as much as possible!
Rental Property Investor · Tampa, FL · Member since 2013 · 404 posts · 421 votes
12y
Brandon,
Great info. I'm still on active duty in California and I’m a buy and hold investor. I currently own and manage eight properties from condo's to a fourplex. I recently bought a turnkey home in Memphis as my wife is from there and spends several months a year in that area.
I will say it is a lot of work so anyone, not just military members, need to be prepared the amount of time learn the business. If you manage your own properties you need to be ready for the calls in the middle of the night or on the weekend for the flooded bathroom or any other issue.
I purchased my fourplex in 2000 as a means to increase my income at the time with a goal of $1500 a month in retirement income once I paid it off. I have slowly added to my profile since.
For the most part I really enjoy working with tenants and the properties. There are times when I have to go away for duty or deployment so the wife steps up and schedules the repairs if something comes up. The longer deployments can be an issue. I hired a property manager for most of my properties during my first deployment to make it easier on my wife. She has been able to manage the properties during my follow on tours/trips. Two things that have helped when I’m gone have been Skype and this great website out there I use called biggerpockets.com. We can ask questions there or to my colleagues.
To sum it up you can invest while in the military. Your job may determine how much time you can dedicate to investing but it is possible. I highly recommend that my fellow service members start educating themselves first then look for homes in the areas around their bases as there are always other service members on looking for homes and each base has a housing office.
Skip the get rich in a weekend seminars and download the Ultimate Beginner’s Guide on BP and listen to the podcasts. Look for other quality educational materials also. There is always something new to learn.
BP, again, great articles and I appreciate all that everyone on here does. There is always someone will to help out and answer questions. Hopefully this isn't too long and I didn't bore anyone.
Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
12y
Thank you @Joshua D. for putting this together. I have 3 family members currently serving and 2 members who previously served. Thank you to all of the service members who serve so we can enjoy the freedom this country offers.
Investor · Lafayette/Baton Rouge, LA · Member since 2013 · 1k+ posts · 915 votes
12y
Why is it I'm not surprised by the support of military veterans by BP? Thanks Joshua!
I salute SFC Remsburg, a truly courageous and inspiring hero.
I served and I stand ready to help any veteran learn and take action as a real estate investor!
BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
12y
Thanks guys -- @Brandon Turner deserves most of the credit for researching and composing the article . . . do give kudos where it is due.
That said, please do help spread this thing if you find it worthy . . . post it on Facebook, email it to your brothers and sisters in arms, and do whatever else you can to see that as many active service professionals as possible can get their hands on it. I know that many people face real challenges when coming back and I do believe that getting the ball moving in real estate can not only be valuable to your personal finances, but can also be a cathartic release.
Realtor · Ventura County, CA · Member since 2012 · 126 posts · 61 votes
12y
Great post. I think everyone in the military can benefit from this article, and learn about the opportunities and possibilities of supplementing their retirement, especially if they’re in it for the long haul.
I was in the Marine Corps when I bought my first property in 1995. My brother, who was also in the Marines, and I combined our VA loans (and income) to qualify for a loan that I might have never been able to get on my own. We were able to buy a house with a granny flat. The rental income from the flat practically paid for the mortgage. It was definitely a long and intimidating process back then. I think now the protocol is faster, or should be.
Also, I remember sometime after that, a Master Sergeant, who had around 20 years or so, came into our unit to give us a class on personal finance. He talked about the fundamentals of savings, mutual funds, and other stuff. But when he talked about real estate, he had everyone’s attention. He talked about how he bought a home for himself and his family near every duty station he was transferred to. As soon as he received his orders, he’d rent out the one he was living in and go house hunting for the next, while on leave. He went on to discuss the many options he had for retirement. It was an inspiring class.
I think that kind of a class, like this article, should be presented to all of our service men and women. Thanks for letting me share my insights.
@Tim Soto - Thanks for sharing your story. And please help us get this article in the hands of as many service men and women as possible with whatever influence/connections you and our other active service & veteran BP member have.
Investor · Colorado Springs, CO · Member since 2013 · 80 posts · 26 votes
12y
Thanks for this BP!
All of the male side of my family (including myself) have served at one time in the military. My oldest brother spent 16 years in the Air Force until he was kicked out for being gay. My next older brother did four years in the Marine Corps. I also spent 10 years in the Marine Corps and my twin brother retired from the Army.
Currently I support the military as a contractor in the Middle East. This information has been invaluable to me in getting started with Real Estate.
Thanks for the great article and the support for veterans and active duty folks (like me) that are choosing to invest in real estate.
Trying to build your real estate holdings while still active duty can be a challenge, but can also offer great benefits. And it's certainly possible, even with the constant moves and deployments. I'm living proof, as I was in the middle of closing a deal while at the same time getting restationed in South Korea for a year (I've been here now for just a couple weeks). It's amazing how much you can do with a smartphone, decent wi-fi, and sweet-talking someone into letting you scan some documents!!
Also, as always, thanks to everyone at Bigger Pockets for sharing their knowledge and wisdom. It's been invaluable for me personally as I work towards the goal of getting myself set up for life after the military!
Greg
If you or Brandon ever need any more insight from someone active duty, don't hesitate to contact me!
Thanks for bringing this into the spotlight! My husband just got back from Afghanistan, and we were thinking along the same lines as you. Real estate could become another goal for vets to pursue, and they need good people to work with them!
Real Estate Investor · El Paso/Corpus Christi, TX · Member since 2013 · 45 posts · 12 votes
12y
Thanks for this article guys!! I took advantage of the savings deposit program while deployed a few months ago, and wondered how I can reinvest the savings. I soon found BP, and now about to transition out of the Army where my wife and I will purchase our first buy and hold multi family investment property!! I will definitely share this article to my comrades that still have time to take advantage of the programs available while serving. Thanks again guys!!
Missoula, MT · Member since 2013 · 7 posts · 4 votes
12y
Love the article. As an Active Duty member I felt it is a great beginning step! Thanks for taking the time to help out some of us that just need a first step.
Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
12y
my son is a pilot in the navy. Pilots F somethings. 14s 18s. Protects us for a living. I think 8 pilots and crew died over the last two weeks. Practicing. Imagine dying practicing being a real estate investor.
I personally don't want him to invest in anything more than his knowledge and abilitity to fly those plans and drop bombs on the bad guys.
These men are kids for most of us. They only want one thing. To be honored.
Anyone who doesn't know me who is willing to die for my right to live is a fringing hero.
Maybe BP should honor our men and women with contributions.
I'm in for thousands
They don't need to buy houses. They need our support.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
12y
Nice Job Josh!
Absolutely Michael, they are all heroes!
I began investing in the Army stateside. Marie had a very good post after the blog. Conflicts of interest can arise. Don't think however that you can't lease to someone who out ranks you, that should not be an issue at all. While I was enlisted I least to officers and senior NCOs, heck, I was an E-5 then, so most living off post out ranked me! I was later commissioned but never had any issues. Just use a good lease and go by the agreement. I'd say active duty folks were the best tenants I ever had or could ever hope for!
Use the Housing Office! They kept the place leased, unofficially, just buy nicer, clean dwellings and keep maintenance up.
Automatic drafts/allotments are great!
I do share Michael's concerns too as to keeping a clear head, not having housing issues clogging your mind while serving, duty first! If you get into a property that has issues, tenants or property, consider dumping it or get a manager who can run with it without your involvement, IMO.
Thank you to all who serve, active and reserves! :)
Elgin, SC · Member since 2013 · 42 posts · 9 votes
12y
I am active duty Air Force. I am a armament systems technician on F-16s (I inspect/maintain/repair the weapon system on the F-16, and load the bombs/missiles/20mm)
I have yet to read this article, but thank you anyways for putting it together. I can't wait to read it.
I've been in 18 years and I am in a position now where I manage, I do not get my hands dirty anymore, But I have been deployed to Iraq twice, and Afghanistan once, and Turkey when we did Operation Northern Watch.
There is a good chance I will be retiring this summer, and I am working on getting my second rental. Very early stages, and its like starting over from scratch as my first one I aquired almost 3 years ago lol.
I am active duty Air Force. I am a armament systems technician on F-16s (I inspect/maintain/repair the weapon system on the F-16, and load the bombs/missiles/20mm)
I have yet to read this article, but thank you anyways for putting it together. I can't wait to read it.
I've been in 18 years and I am in a position now where I manage, I do not get my hands dirty anymore, But I have been deployed to Iraq twice, and Afghanistan once, and Turkey when we did Operation Northern Watch.
There is a good chance I will be retiring this summer, and I am working on getting my second rental. Very early stages, and its like starting over from scratch as my first one I aquired almost 3 years ago lol.
Thanks again for the article.
Matt,
Awesome! I was the Armament Flight Commander at Barksdale AFB, on the BUFFs. Thanks for your service and good luck on that second rental.