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Updated over 7 years ago on . Most recent reply
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My Path of How I Got Here
Hello everyone. I'm Austin. But I'm from Jacksonville. And live in San Diego.
Hopefully someone got the Austin reference. I've never been there though.
So being from Florida I hate the cold. More power to all of you up north. I have been there and am good with sticking to tropical islands for vacations. Which happens to be one of my goals. I grew up in Florida and then North Carolina and then Florida, graduated from Nease High School and then UCF in Orlando. BSBA with a focus in Entrepreneurship. Then I did what any normal person would do...I joined the navy, more specifically Naval Special Operations. That's what they told me at least, still mostly paperwork, God Bless American bureaucracy. I wanted to serve before I was too old or I probably would have regretted not doing it while I could.
I wanted to buy a house early in my naval career because I knew some of the financial benefits of it from growing up and school. Math! Unfortunately I had that most costly of relationship setbacks, so my first home was delayed somewhat. Fast-forward two years. One home bought, not quite paid for, like I said I live in San Diego. I see that not as a bad thing, just an expensive one.
Home details. House Hack. Partly on purpose but I could have done better.
Purchase 567000
Loan 579000
Current Est Value 632000
Rate 3.375
PIE 3192
Roommates Rent 2600
BAH 2500ish
So it's not hard to make ends meet. And I recognize I know what I pay, but not what I make. Funny.
I have one private lender who wants to do a deal. Somewhere around 200-300 cash.
I have one co-worker who wants to partner on a multifamily.
I have one friend who is a mutual newbie REI (great store btw).
And I want to look at house hacking (FHA or Refi current and reuse VA?) a multifamily sometime after OCT 2017.
I have two realtors I like, but I don't believe they are too savvy on the investor side.
Also have two general contractors in my hip pocket. And my dad is an architect, yey free plans.
I have about 2000/m saving rate outside of TSP(401k), 25000 cash, 25000 credit, and no debt outside my mortgage. Next step?
The brief version of my goals.
Never work a job after the navy. Except maybe contracting, at 350k a year it sounds pretty good.
Create 8000/m cash-flow in the next 3 years.
Fully "passive" income before 40.
Travel to the countries the Navy hasn't sent me to.
Eventually give 90% away. (J.C. Penney)
I would love to meet whoever wants to talk, teach, pay, invest or just have a beer with me.
I really just started learning towards the end of last year, but I am addicted to information.
Most Popular Reply
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Hello @Alexander Holmes, Welcome to BP. I have a grandson in San Diego who is just starting him REI venture. @Ben Biggs is a REI savy Agent who is helping him (not a Holmes).
Give Ben a try, I think he can help you.
Cherrs, Buddy Holmes