New to bigger pockets/financial freedom

[Jalen Brown]

Hello i am 23 years old from Springfield, Massachusetts. I was recently introduced to bigger pockets and rich dad poor dad a few months back from my SGT in the Army. I am looking into buying a duplex and house hacking then maybe some more rentals as i grow and learn. Im currently working on lowering my expenses so i can save more money to invest. Currently renting an apartment with my girlfriend. But i have like 0 savings. My main focus now is lowering my expenses and becoming more frugal. I make about 40k a year and have like 12k in debt from student loans/personal debt. Any suggestions on lowering my expenses to start off? So i can save more. I am planning on house hacking a duplex with my girlfriend then maybe get into the BRRR method and more rentals. Any suggestions for a brand new investor? Things you wish you would of known? I been listening to the podcast everyday catching up on old episodes.

[Joe Splitrock]

@Jalen Brown welcome to BP, thanks for your military service and congratulations on your decision to put yourself in a better financial position. The first thing to understand is your financial situation is 100% under your control. Every decision you make either brings you closer to financial freedom or drives you farther away. 

Being frugal in your younger age will allow you to save money and you will have more in your older years. I recommend reading Dave Ramsey books and listening to the BP Money podcast. Dave Ramsey has a program for budgeting and reducing expenses. They teach it at local churches. I highly recommend you attend with your girlfriend and attack it as a team. Just keep in mind that Dave Ramsey recommends paying cash for rental properties. That is one area I disagree, but other than that, his system of budgeting and reducing expenses is second to none.

Being in the military gives you special opportunities to leverage VA loans and get into rental properties cheap. If you move locations, you can buy a property at each location using that amazing financing. Many military people pick up several rentals this way, then transition to full time investing after leaving the military.