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Updated over 11 years ago on . Most recent reply

User Stats

113
Posts
32
Votes
Jacob Elbe
  • Springfield, VA
32
Votes |
113
Posts

New Military Guy Starting to Invest!

Jacob Elbe
  • Springfield, VA
Posted

Hello all!

My name is Jacob and I'm an Air Force officer currently living and working in Europe. I'm from the Northern Virginia area, but am looking to invest wherever I can get the best returns, and not necessarily an area I've lived in before. I currently own one SFR that was my primary residence when I was stationed in Mississippi, but the Air Force decided it was time for me to move and the house turned into a rental property. I've now had two years of renters, but it's really a break even property and I plan to sell it this year.

I'm at a point in life where I have the cash to really start investing and I've been looking at REI for a couple of years now because I believe it's the best road to real wealth. I finally stumbled onto this site a couple of weeks ago and have been reading as much as I can since!

Before I found this site, I came across turn key providers and decided that was the best way for me to start investing in real estate while I still lived overseas, without having to travel back to the US all the time.

So I'm currently working on buying my first property in the Cleveland, OH area. I should actually sign a purchase agreement this week if it all goes well! I'm sure I'll have more posts about that soon, but as this is the Intro forum, I'll leave that for another area.

Long term, I hope to live off of residual income produced from real estate investments. I have a wife and a daughter (only 1 for now) and I want more time to spend with them!

I look forward to getting to know some of you and learning as much as I can along the way!

Most Popular Reply

User Stats

104
Posts
27
Votes
Joe G.
  • Rental Property Investor
  • San Angelo, TX
27
Votes |
104
Posts
Joe G.
  • Rental Property Investor
  • San Angelo, TX
Replied

@Jacob Elbe

Welcome. This site has tons of knowledge and more importantly, hundreds of experts who are willing to assist.

Are you selling your current home just because it breaks even? How much equity would you gain by selling? Could you refi the loan to have lower payments? What does your property manager charge?

I am active duty military also. I have turned my primary residents into rentals when I have departed the area, some are doing better than others but I am keeping them all.

Please keep us posted about your turn key experiences and again welcome.

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