New member from Massachusetts. (planning on going to VA)

[John Kaspar]

My name is John Kaspar and as the title states, I'm from Southern MA.  I've spent 12 years of my life in the Army National Guard, been all over the US and overseas. Got back from Afghanistan in 2011 and decided to go the general route that ever service member generally does: go into law enforcement. During my hiring phase I was informed I had a heart issue (arrhythmia) which in my head I heard "You're going to die" At that point i thought to myself "This isn't what I want to do. What do I want to do? OWN A COUNTRY" Obviously I cant do that so owning a block of property is significantly easier, reasonable and isn't gunna get the rest of the world pissed off. So, real estate was the only (logical) option.

I've been in school for 5 years on and off and just finishing up (hopefully) in the spring with my BA in Bus Mgmt. Not doing it for the paper, just to prove to myself that I can. The only reason it took so long is that I still have to work to make a paycheck and survive. 

Luckily I'm fortunate enough with my time in Afghanistan that I have my VA loan to use to buy my first 4plex and go from there.

I randomly discovered BP on YouTube a few months ago and didn't think much of it. A few weeks ago I bumped into another podcast on YT and decided to listen to it. That then started the madness of me sitting at work (Logistics coordinator)   with a headphone in one ear absorbing as much as possible about something (I thought)  I knew everything about. Was I wrong. I was on the right path, however I missed a fair amount.

My plan as it stands:

Pay off as much debt as I can in the foreseeable future to raise my credit as much as possible

Await my VA compensation amount ( got injured overseas, put it off until I heard it is considered "income")

Finish up school

Move to Virginia (looking for pointers on location)

Hopefully grab a job QUICKLY

Buy at least a duplex

Rent one side, fix the side I'm living in

Charge more money for the upgraded side, offer it to current tenant at a higher rate, they can accept or move

Fix the other side

Refinance on (hopefully) the difference of gained equity

Buy another property off money made from equity

Repeat

     I plan to read as much as I can here, I try to avoid asking questions if they have already been posted. However it took me 10 minutes figure out how to post,so I'm sure ill get lost using the search button.

[Eric Stafford]

@John Kaspar Welcome! Great story and plan. Safer one joining real estate path and working for yourself.

I will make one comment but I don't profess to be an expert. Look into the "payoff debt" part of your plan. You may be right in that choice or you may be...less right. There may be other ways to raise your creditworthiness than throwing a lot of cash at debt. You may want/need that cash that you cant get back once applied to debt.

Summary, make sure that is the most effective use of your time/cash if the goal is raising your credit profile.

Eric