All Forum Posts by: Joshua Moore

@Joshua Hilliard

I am only nearing 4 years, so retirement would be way down the road. I would like to start flying as soon as possible, and if I were to wait for OCS to pick me up, it would probably take 2-3 years minimum before even getting selecting (from what I've seen from other co-workers). Plus the time commitment of 11 years is not appealing to me. My job in the military is not that bad, I am thankful for the experiences I've had so far, but overall, it is something that is just bearable, nearing total boredom at times, and I couldn't even imagine staying in for a whole 20 yrs. I would like to have a little bit more control over my life. Money is great, but I value my time a lot more, I don't need much, I'm just looking for ways to end up with a flying job that I enjoy, while pursuing passive income. I do find a situation that is doable as far as finding a house hack to get that started while making decent progress in flight training, then it would be worth staying in for another year or two (I'm still chating with the local flight school at the moment). Otherwise, I would have to hold out for about 2-5 years before starting a house hack. 

@Ernest Grindle

I have looked into investing in Elizabeth City, and I do think there is some potential right now. I used to live real close to the properties currently listed, and I would probably not enjoy moving back into town (I currently live in Camden, way better). Although I'm not 100% sold on the idea, it is definitely worth a look. Honestly, if I had a  choice I would house hack more near currituck or kill devil hills area, but it doesn't look like there would be any places that are available (or profitable if so.

I think I'll take the next week or two to try to get a feel of what option 2 would be like. I'll try to meet up with some of the flight instructors in this area and I'll drive through the neighborhoods of potential places I wold like to house hack in. If don't like the idea of option 2 by then, I will stick to the original plan. 

Thank you all for all of your responses!

I have a conundrum here, and I'd love to hear some perspective on the subject.

So my ultimate goal 5-10 years from now is to have $5000/month in cash flow.

I am currently in the military living in Elizabeth City, NC, and I was really set on getting out and going to flight school out in the pacific northwest area, until recently discovering bigger pockets,  real estate investing, and the possibility of taking flight school nearby. 

Now I'm having second thoughts on how I should go about the next 2-3 years, so I'm debating 2 options:

Option 1:  

-Continue with the original plan, attending flight school in either Hillsboro, Oregon, Troutdale, Oregon, or Tacoma, Washington using the G.i.bill and receiving BAH around $1700-$2100. The entire program varies around 18-24 months, and then add another year or two building flight time at about $30k/yr before getting a job take make anywhere from $50-70k/yr.

-Try to make connections with people in and around real estate investing in those areas to learn from them and eventually build enough knowledge to take action by the time I have a real pilot job. 

-On a side note I have thought about house hacking with a VA loan, but unsure of the possibility of that since I'm only living off the BAH and about 20K savings in what looks like higher priced areas.

Option 2:

-Extend for one year (starting from this Sept) and try to knock out as much of flight school as I can.

-I've thought about house hacking in Norfolk, Va area just for the sake of starting somewhere. It is the only area in a one hour radius that has affordable multifamily homes that seem to have good potential of starting a positive cash flow by the time I move out.

- The Pros of this option are that it seems to be the best option financially speaking- I currently save about $1000 a month. I would probably save a lot more if I wasn't paying $950/month for my current rent/utilities. Plus the potential of having a cashing flowing rental property by the time a leave.

-The Cons would be having a full time job while attending flight school (along with an associate degree). Most flight schools advise against this to avoid distractions from intensive training. Also the one hour drive with tolls to and from work is doable, but not the most appealing. 

What would you do if you were in my shoes?

I would love to hear your thoughts!