Newbie Investor From Nowhere (or everywhere)?

[Nate D.]

I know, I know...everyone is from somewhere, and after browsing the introductions and posts on BP I know this is not as unique a feeling as I thought and that it shouldn't stop me from chasing my investor dreams!

My name is Nate, and I'm an active duty Army officer currently serving overseas who is looking to retire in the next 7 years or so after probably moving another 3-4 times!

If you read my profile, you'll see that I'm currently an "accidental" investor. I'll explain. In 2008 I bought my first home to live in (conventional, no money down - because I could back then). I found it usually cheaper to buy than rent in South Georgia. Then the housing market in my area crumbled. The house I bought less than a year ago (back then) was now worth 20k less than what I paid. Rather than losing money selling, I've been holding on to it as a rental ever since; covering about $100 of the monthly mortgage and whatever repairs are needed. Its not ideal and I performed no analysis in the beginning since I never planned to rent it. At least I have no other bills aside from home mortgages and can easily afford to carry it...though I feel stupid for doing so! I'll have questions on what I should do with this later!

After moving to Augusta, GA in 2010, I bought another home (VA loan, no money down). Wasn't planning on keeping that one either but what the hell? There's something sexy about owning property and giving people a place to call home. Luckily I cash-flow about $120 per month, but if I do a proper analysis, I'm probably losing money on this one too since I did not account for cap-ex or other expenses. At least I don't have to touch what I earn from it.

Anyways, I want to change all that. Loading up on knowledge and learning from veterans, books, podcasts, etc, gives me the confidence I need to do it right and do it well. I'm saving what I can while serving overseas (shooting for 50k by summer). We'll see what I can do with the total on the ground back in the States...wherever I end up (maybe Northern VA)!

I plan on looking at our next home (single or multi-family) analytically to buy it right, so when I move again, I'll be happy with the outcome and cash flow and can focus on building a portfolio and part-time business that I can be proud of and maybe transition to after life on the move!

Thanks for taking me under your collective wings! I look forward to learning and giving back however I can!