Looking for some advise

[Silas Douglas]

Hello everyone. So I’m 18 and I’ve been gathering all the info I can and listening to BP podcast for a year and feel I’m ready to start l. I’ve enlisted in the marines and leave later this year and I’m trying to save money before I come back from boot camp and I’m hoping to have at least 5000 from boot camp and a extra couple thousand from saving, so maybe 7 or 8k and want to use a fha loan on a 3 or 4 unit. I have a agent that’s helping and a potential lender so I almost have everything in place and I know everything I need but I feel like I’m missing something, should I wait longer or is the plan good enough I would just like some advice here. 

Thanks for listening to my plan, if you respond thank you so much 

[Ryan Lesley]

Hey @Silas Douglas, 

First off thank you for your service, I am prior Army myself, and make sure you don't give out your basic training address to any jokesters you might have in the family or know - trust me 😂 

So I had to double check this, because I was pretty sure you could qualify for a VA loan pretty early on in your service:

"When it comes to eligibility for a VA mortgage, it isn't something that takes years and years to accrue. Generally, you're eligible if you've served at least 90 consecutive days on active duty during wartime or 181 days during peacetime."

source: https://www.veteransunited.com...

With that being said, I would say that contacting Veterans United, explaining your situation and seeing how soon you might be able to qualify for a VA loan would be something to look into.

As far as waiting, I would ask what is it that you are concerned about that would make you want to wait. If its the common, purchase price/interest rate then I would say that so long as you find a deal that makes sense based off your investing goals and finances, then full steam ahead. you may or may not have come across a quote that I often reference when giving advice about this exact topic: "time in the market beats timing the market" and that's because its short sweet and true. If you look at the overall historical data of the housing market it has always trended upwards. And so while purchase price and interest rates may be higher than they were X years ago, appreciation and time is what you have on your side when investing long term. 

I hope that helps, and best of luck on your REI journey 🤝🍀