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Updated over 9 years ago,
Hungry Newbie in Southern Illinois and Yuba City, CA
Hello everyone,
I just signed up with bigger pockets and am really grateful for such a great site. It really seems like a perfect place to get started and really learn all you can before you start, which is what I needed.
A little about my situation. I am 22 years old, currently enlisted in the USAF and deployed overseas until the end of the year (2015). Once I get back, I'll be busy with a leadership course and then leave for a year in Korea and am unsure of where I will be living after that. I understand being gone so much will be a huge obstacle to overcome, but I am very hungry for passive cash flow and really want to start my investing career while I'm younger.
My current plan is to start with multi-family residential properties and buy around 50 units in the next ten years. Hopefully after those ten years I will be producing a large enough stream of cash flow to live off of and start helping other investors finding properties by becoming an investor realtor. I am open to moving on to commercial units once established, but I don't feel that would be a good place for me to start right now.
I do have a few questions and will appreciate any feedback I can get. I don't know where (location) to start my investing career at. My home is southern Illinois, which is a pretty rural area and I don't see as much potential for profit as other areas. I presently reside in northern California but won't be stay there more than 6 months before I leave again. Should I start buying back home in Southern Illinois, in California, in a different location that I have no connection with but the potential is better, or just wait until 2017 to start investing in the local area where I get moved to?
Again, any input on how to start, where to start and who to start investing with is appreciated. Thanks and have a great day.