My first forum post!

[David Pryce]

Hi everyone! My name is David. I'm an active duty Marine and a newbie investor who is still in the learning phase but I'm on the look out for my first deal. I would really like to attend a meet up in or around Columbia, MD as well as get some recommendations for a good deal estate agent in the same area. I am also open to receiving any tips or advice anyone is willing to give. Thanks for reading!

[Henry Clark]

While in the service try this.

Option 1:

If your living on base, move off to an RV.

Use your housing pay to pay for the RV and lot rental.

Example:  Numbers don't really matter, as long as they work for you.

Go to an RV park.  Find one for sale you like.

Used RV $30,000;  Lot space $250, Electric, Sewer.

Pay down as fast as you can.

Financing.  As your banker how much down and what the interest rate is.  Ask for no more than a 5 year note.

What's your off base housing allowance?  Example use $800.

Monthly payment, do the expenses of $250 above.  Pay the remainder $550 down against the loan.  Lets say you stay there 2 years and pay down $6500 principal per year.

You have a used RV your bought 2 years ago for $30,000 which unless damaged is still worth around $25,000.  You have a loan for $17,000 left.  You make money, without much invested.

Option 2:

Same as 1 above, but rent a room out for $300 a month.  Charge them $150 of the lot/utilities, more than half.  Do the numbers.

Eat on Base.

Option 3:

You decide to stay in, then move up to Houses or Condos.

Who do you sell to?  Explain it to a new incoming soldier.

Best wishes either way.

Start Small and make Your Big Mistakes Early.