Young military REI noobie Living in Albuquerque

Young military REI noobie Living in Albuquerque

New to Real Estate · Austin Tx · Member since 2015 · 1 post · 1 vote

Hello BiggerPockets! My name is Kurt Core, I am 20 years old originally from just outside of Traverse City, Michigan, but the Air Force has me currently in Albuquerque NM. I am hoping to move to Las Vegas in about 6 months, and I am really interested in investing there in Vegas. 

I really don't have any real estate experience other than I helped my friends mother clean up properties that she invested in. No experience with tenants or numbers. My goals with real estate are the become financially free within the next 15 years while still being able to travel the world during that time, especially Europe around Norway, Sweden, and Finland. I also want to see what Australia and New Zealand are about. I found BiggerPockets on my own as I am very motivated to learn and since I've found this site I have been listening to their podcasts and YouTube videos. 

I am mostly interested in buy and hold investing and I really like the Idea of possible "hybrid investing" essentially buy and hold, but if the property appreciates (I don't plan on buying properties for this specifically) past the point where I would only be getting .5% current price to current rent ratio, then I would sell and with the new capital find new buy and hold investments where I can get at least 1%. So essentially taking into account opportunity cost of holding vs getting different properties with the capital.

I live well below my means in the military and use about half of my check goes towards investments. I currently have that money in stocks, but am looking to take that money out to put into real estate.

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  • Rental Property Investor · Sandefjord, Norway · Member since 2015 · 202 posts · 87 votes
    11y

    hey!

    Welcome to the forums! And wow! Im super impressed to hear you are already looking to real estate at a young age. An indicator that you will go far for sure! 

    As a former armyguy myself im happy to share my knowledge with you, so if you ever have any questions, go ahead and ask. 

    My first pointer i would like to give you is to look deeper into your hybrid investing strategy. Selling out of a market thats having growth can be a very unfortunate thing. If you ever invest in expensive areas, you will get so much equity if the market goes up. My properties are in the 200-300.000 dollar range and lately ive seen the market explode here in Norway. Im getting ROIs of more than 40% annualy, but my rent to cost ratio is 1/160, less than 1% on my 25% downpayment investment. Remember you can refinance in the future. I only look at the ROI now, and i factor in the apprichiation. As long as my properties are performing above 12% ROI, which is the value ive set for myself, im holding on to it. Equity is what im looking for now as its the fastest way i know to grow big. Look into it man. Maybe you find new ideas.

    Im so excited for you to be here man! 

    -Morgan

  • Full-Time Investor · Woodstock, GA · Member since 2015 · 105 posts · 47 votes
    11y

    @Kurt Core,

    Welcome, Kurt! 1st of all, "thank you for your service to our country"! Secondly, I have 2 military daughters, who both making an awesome career for themselves. My oldest daughter is also military, went from blue to green; and is now engaged to a fellow airman. They are stationed @ Clover, New Mexico.

    Interesting you should mention "learning what Australia and New Zealand are about"! You are wise beyond your years, my friend. I am impressed, and you should be very proud of yourself. Congrats for being forward thinking. You will undoubtedly, be successful! At any rate, I'm interested to know what your comment means actually. The reason I ask is that I'm now taking a class on how their credit systems work. They're doing things financially, that we could be doing more intelligently in this country, if we were better educated; but the US "powers that be" don't seem to want us to do it the "smart way". (No conspiracy theory, just idle chat). At any rate, interesting...none the less.

    Again, welcome to BP! You will find a wealth of education here!

  • Wholesaling · Kearny, NJ · Member since 2015 · 30 posts · 1 vote
    11y
    Thank you for your service Kurt Core ! Seems like you're on the right track at a very young age. Don't stop learning and stay positive! Goodluck!
  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Kurt Core

    Welcome to the Bigger Pockets community. It is a great place to learn about real estate.

  • Jerry W.Pro Member
    Moderator
    Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
    11y

    @Kurt Core welcome to BP. First thank you for serving. I like that you are starting early and already appreciate saving before spending. Try reading through the Learn section above. it is loaded with great information. I invested part time for 20 years before I found this site and I was amazed at what I learned there. Hook up with folks on the forum and ask questions and make friends. They can help you review possible deals later on when you go to buy. You have the VA loans to get lower down payments for your first place or 2. Set some key work alerts for topics or areas of interest like "Vegas" or "VA loans" to start learning about the market and make those connections. Good luck in your investing. Remember real estate is a get rich slow business do not think you need to make millions on your first deal.

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