Sailor to Real Estate Investor

[Lee Nguyen]

Hello BP Community!

Just wanted introduce myself. My name is Lee Nguyen. I'm currently in the Navy with a only few years left. I bought my first piece of real estate about two years ago when I was 23.

It was a condo on a short sale with a VA loan for 66.5k. Over the past two years and between deployments, I spent most of my free time renovating the place. A lot of expensive lessons were learned

This last February, I wanted to take a leap of faith to see how much equity I would have with just half of the improvements done. The appraisal came back at 110k so I took out a 30k HELOC to help finance the unfinished half of the renovations.

I just finished all of my renovations a few weeks ago. I put in for another appraisal to see how much more equity I can take out and will be renting out my condo for 1350 in August.

I'm starting to get real excited about real estate investing route for the challenge and financial security it can offer. Because of the rental market is so hot where I live, my aim is to buy as many duplexes as I can, fix them up, and rent them out for a pretty penny.