Newbie headed to Guam

[Michael Um]

Hey BP! After listening to a few podcasts, I realized I never went through with the introductions post.

I'm Mike Um, fresh out of pediatric residency, and heading to Guam in a few months.  I saw the massive benefits to real estate investing through my father-in-law and over the past couple years have been making headway with the canon of real estate books (millionaire real estate investor, a few rich dads, BPs offerings, for example).  

I'm looking for long-term, get-rich-slow wealth, and right now I'm thinking about buy and hold rentals.  

There doesn't seem to be too many Guam posts, but if any Guam BPers have any insight, I'd love to hear it!

[Rob Myers]

Be cautious.  

Back in 2010, the government had big plans to build a new marine base on the island.  At that time, investors were speculative and grabbed control of available properties anticipating growth of 50-60k people on the island.  Long story, but funding fell through and I think a lot of investors were left in a not so good position. I hear a new smaller scale buildup plan is in the works, so there still may be growth but not as large as originally anticipated.  

You have two primary market forces in Guam - the US Military and tourism.  If it were me I would figure out how to cater to one of those two primary needs.