Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
New Member Introductions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago on . Most recent reply

User Stats

65
Posts
39
Votes
Jimmy Watson
  • Investor
  • San Diego, CA
39
Votes |
65
Posts

Complete Noobie from Oceanside, California

Jimmy Watson
  • Investor
  • San Diego, CA
Posted

Hey everyone!  My name's Jimmy, and I'm a Marine EOD Tech stationed at Camp Pendleton, California.  I'm originally from Michigan, but luckily moved somewhere a bit warmer to avoid the miserable winters that plague the midwest.  

I'm here on Bigger Pockets because I've got about 10K saved up, and no idea what to do with it.  I know that's not much, but I'm hoping it's enough to get my foot in the door.  I've thought about real estate for a number of years, but frankly have no idea of where to start.  I have zero real estate experience.  

My Goals:

To purchase a small rental property (to start) and rent it out to gain a little bit of extra income.  I've been looking at apartments in Niceville, Florida because I lived there for a while and absolutely loved the area.    I obviously would have to hire a middle-man to handle all of the little things, seeing as I live in California.  I would also fly to Florida around Christmas time to check out the property I'm interested in.  

Eventually, if my first property does very well, I would love to purchase more property and let it grow from there.  I just need a little push in the right direction!  

Thanks everybody,

-Jimmy Watson

Most Popular Reply

User Stats

5,659
Posts
1,833
Votes
Elizabeth Colegrove
  • Hanford, CA
1,833
Votes |
5,659
Posts
Elizabeth Colegrove
  • Hanford, CA
Replied

Welcome to Biggerpockets

My husband is active duty Navy. We are stationed at NAS Lemoore. We are buy and hold investors. Are you required to live on base? Have you thought about buying a personal property (foreclosure, shortsales, etc) and renting out the rooms in your house to ship mates? If you buy a great single family houses that who's rent will cover you mortgage and a margin when you leave. Than you can get into the deal with 0 down by using your va loan. If you rent out the rooms than you can cover your costs and continue savings! Plus you now have a rental.

If you buy a pure rental you have to put 20% down. On the other hand you can split your va loan. So whatever you don't use in California, up to your entitlement you can use again somewhere else. we got two loans out of my husbands va. Than after you have used up your va you can buy a personal using 5% down conventional. 

We got started by buying personal properties and turning them into rentals when we were transferred. We also bought pure investments as it made sense. Our goal is to use the cash-flow to permenatly retire when my husband is eligible for a pension.

  I talk alot about our strategy, suggestions, va loans, mortgages, and lots of other great articles on my blog found in my signature. I also have a couple of free ebooks coming out including one about self managing. If you like the blog I highly recommend you sign up for the free newsletter. As it will have tons of great stuff.

Good Luck! The military's transient nature is an amazing asset. It has allowed us to truly follow our dream. 

If I can be of any help let me know :) Good Luck!

Loading replies...