All Forum Posts by: Steve Marshall

Brandan,  

As someone who is nearly 20 years beyond you in the military, I think you should pull the trigger (whether it's this one or something else)   I had a lot o thoughts like that when I was 22 and never did it.  I don't believe in regrets, but I certainly think my financial situation would be better had a purchased a couple rentals in my early 20s.  Your military lifestyle an steady W-2 will be an asset if you use it wisely.  

Seems like you're on the right track.

Steve

As an "investor" (very small-time) who searches the MLS in the P-cola area, I agree that those deals rarely make it to market in Pensacola area (at least not in the last year or so). Not if you're doing your numbers in a conservative fashion.

Thomas,   

Love the attitude.   Good to see a military man moving into the private sector.   Keep up the motivation and keep your goals high, my friend.   Look forward to the 1 year update.  

Steve 

Kris, I found a realtor I trusted (retired Navy O-6) who also does personal REI. She pointed me to a property on Auction.com and I just went for it. I had been pre-approved for an investment loan in preparation for the purchase. Standard loan 20% down...I plan to re-fi after one year and get my cash back.

Kris,

Welcome, I'm active duty as well and have a similar obsession. I recently took action and bought my first pure investment property in Pensacola (from overseas). It was a big leap but well worth it.

Go Air Force...

Steve 

Victor,

Sounds like you have a good plan for a live-n flip. I'm currently active AF, but living overseas. I'm hoping to make C-springs my next location and begin investing there. I'll be interested in following your experience.

Steve

https://www.veteransunited.com/valoans/va-loan-ent...

That's from the google machine...looks like you can combine the loans.  That presents you with a lot of options, just remember you can buy one 4 plea, live in it for a year, and then move on...you would have whatever entitlement you have left.  (Still need to meet underwriting requirements.)

Keep us up to date on what you decide!

Steve

Eric, 

We have similar stories. I have been a landlord since 2005 and will retire from the AF in about 4.5 years. I got my first real deal this year, and my 2005 property just made it out from underwater.  Time and patience...

Look forward to hearing how you do it.

Steve 

Daniel,

I'm also active duty military, looking to connect and learn from those on here who are doing what I'm doing.

I'm currently overseas and trying to purchase one property per year.

Steve 

Jacob,

I'm also active duty military. My one warning...don't get in until you fully understand how to make a profit on a rental and not bet on appreciation. I made that mistake a long time ago with my first purchase. (and I see a lot of young Lt's and NCOs do the same thing)

15 years in now and I just purchased my second place...it's hard to recover from that first mistake if you make it on your first purchase! Stick with it though.

Stay in touch, good luck,
Steve