All Forum Posts by: James Vermillion

Welcome to Bigger Pockets Brandon. Since you are in the learning phase you have come to the right place. BP is a community of experienced and new investors who are willing to help one another. In addition to the forums, check out the blog, podcasts and other resources offered and you will be well on your way in no time.

BP is also a great networking tool, and if you stay active you will likely find several investors local to you who will be willing to sit down and discuss the local market with you.

Good luck!

Jonathan,

There have been several discussions about this in the past. These threads might provide some more insight to the discussion:

http://www.biggerpockets.com/forums/52/topics/70005-lower-end-rentals-vs-higher-end-rentals

http://www.biggerpockets.com/forums/12/topics/72113-luxury-sfr-rentals-vs-low-end-sfr-rentals

I hope that helps!

I think most of us have been there and done that. I remember when I was trying to get my foot in the door some people would like at me like I was crazy, but you cannot let it bother you, simply use it as motivation to continue doing what you are doing.

Also, remember, no matter what business you are in, there are some people that simply get a rise out of belittling others. I am guessing it stems from some internal lack of confidence and desire to demonstrate power. These people are usually not the real big fish anyways, I think more often they are the medium size fish that desperately wants to be the big fish, but they just do not have what it takes.

Finally, I agree with what a few others said...do not respond with an emotional battle for the property. Stick with your analysis and if you do not get the property, no sweat, it was not meant to be. Good luck and continues success to you! And remember, when you are the medium or big fish, treat everyone with respect!

I think Bill makes some very good points here, but some I disagree with. If you are just able to stand it, I would still get out, because just being able to stand the job you are doing is a pretty sad life if you ask me (and that is coming from someone who loved being on AD and was quite successful). I remember when I told my Commander (and other higher ranking officers) I was getting out, the re-recruitment began. I cannot tell you how many horror stories I was told told about people getting out and not being able to find work, (and many of them were the folks who did not work hard or take initiative while in the military) or people getting out and not having good insurance, etc...and many of those stories are probably true, but I know quite a few people who separated and went on to find jobs they loved even more, and others who were able to start successful businesses. Trust me, about a year ago when I was getting out I had to consider not having all the benefits of the military, but here is what my situation looks like today:

1) I was able to apply the skills and experience / education gained from the military and find a job I loved and one with great benefits

2) I don't miss the BX at all, in fact, I preferred Target when I was in the Air Force anyways.

3) Have you tried taking a MAC flight lately? What a PITA!!

4) I have been able to grow my real estate company and at 26 am pretty happy with what I have accompished

While there are some benefits me and the fam might miss, we sure enjoy some of the freedoms.

Don't get me wrong, I also got lucky, and I realize that...but I do remember people trying to scare me into staying, and I didn't like that at all, in fact, it made me more determined to get out. Guess what, some of my friends who told me I was crazy have since told me they are thinking of getting out too...funny how that works.

I agree with Bill though, think hard about it, but in the end follow your heart. You know where you want to be and what you want to do!

Welcome to BP Martha. You would be surprised at how BP is like a community of mentors if you fully utilize the members, so don't hesitate to ask questions and reach out for assistance when needed. It sounds like you are very motivated, which is great, so stay focused and figure out exactly what your goals are and how you can best get there. The great members of BP will be here to help you out when you need it. Best of luck to you!

P.S. NYC is a great place to be...I need to setup another trip!

Thanks for the tag Glenn Espinosa. Obviously there are many personal factors to consider when decided whether or not to get out of the service. For me, I loved being in the Air Force and really enjoyed my job, but there were too many other considerations that led me to get out.

From a financial and retirement standpoint it really depends on your goals and your confidence in yourself. When I analyzed the financial aspect, I was very confident I could do better if I got out after 4 years (and a college education) then if I stayed in. Sure, a 20 year retirement sounds great, but it would have been incredibly difficult if not impossible to reach my other goals had I stayed in.

The other reasons for me deciding to separate include:

1) The not knowing where I would be or for how long. I am married and getting to the phase where we are thinking about starting a family, and staying in leads to a very unpredictable lifestyle. During the fours years I was in I experienced deployments, TDYs, training, etc at a pace I was not ready to experience for the next 16 years.

2) Having moved around I knew exactly where I wanted to end up, and that was in Kentucky. Kentucky basketball, horse racing, bourbon, family, friends and everything else in KY solidified my desire to return to live and raise a family. I am very active, involved and passionate about the area and wanted to get back as soon as possible.

Obviously there were many other factors, but those are just a few of them I thought about. Glenn really makes some good points about the financial side of things, and knowing a lot of retired veterans, that pension is not as nice as many think it is going to be. I wish you luck in making the decision and am sure you will be successful whichever route you choose. Thanks for your service!

Robert,
I too have thought about the MBA but having been in the business for several years I do not see too many reasons to pursue it. Also, I know quite a few people with MBA and do not feel they are a single bit more prepared to run a real estate business than I am. However, since you have some educational benefits, if you can get the entire thing paid for it could definitely be a help.

I would not waste time with a degree mill school though (I know several that get a lot of business from military) because I do not believe you are getting a real education.

It really depends on your plans and goals. If you can skip the degree and spend that time working in the industry somehow, I would say you will see much greater benefits in the long run.

Welcome to BP Robert. I started investing several years ago when I was an Active Duty Air Force Officer, so I understand a lot of the challenges that come with investing while in the service.

BP was and is a huge part of my success and I think you will learn a lot by being active in this community, while making some great connections at the same time.

Please let me know if there is anything I can do to assist.

The final part of that paragraph provides exceptions, one of them being if the water is in control of the resident and provided by a utility connection. I understand it to mean the tenant had to have access not that the landlord has to pay.

I think Jon nailed this one. The problem with figuring out success/failure rates is the fact that the definitions will vary from person to person (the word try can be lumped in as well). If you just use BP as an example there are hundreds of people per year who come to the forums and say the are going to start implementing a real estate strategy, and soon enough they disappear. This of course does not mean that all of them failed, but my guess is that most of the gave up when the realized the amount of effort required to be successful.

I think a better use of time would be to study what successful people do to become successful.