All Forum Posts by: Melvin Noriega

Would you rather have a little bit more money sitting around in your bank account and wallet, or a happy family that loves you? Ultimately the decision is different based on different people and their goals/needs, but I myself went through something very similar not too long ago. I ended up bitting the bullet and buying a 2017 GMC Terrain at 40k. I can afford the monthly payments, but as you might already know, that cash could be used as a down payment for a future property. Depending on how much time you have until you need to buy a new car, consider seeking a new investment vehicle that can pay for your new vehicle. Have you considered finding a multi family property that cash flows well enough to off set your future vehicle expenses?

Christopher,

Thank you for the very motivating response! I can tell you had a stressful start like most, but I really commend you for your sink or swim mentality. The fact that you quit your job, juggled uncertainty and left failure out of the equation is amazing. The biggest reason I have not invested in the last few years is because Im stationed in Hawaii, and did not know enough early on to find creative ways to get into real estate investing. If I would have read Brandon Turner's How to invest with no or low money down book I may have done things differently. As soon as I get back stateside, I'm all in. Thank you for your words of wisdom Christopher, good luck on all your future endeavors.

Hello Pocketeers! 

I have been a member since November 2015, but never actually took the time to participate in the forums and I kinda regret that. My name is Melvin and I'm currently active duty military. I developed an interest in real estate investing after listening to the Rich dad Poor dad audio book, but it wasn't until the birth of my son that I started to get truly passionate about real estate investing! I had a poor mans mentality, but I know now that I can afford anything I want to. I tend to spend at least a few hours a day either trying to find a good article to read, a podcast to listen to, a book to read, or a potential deal to analyze. Unfortunately I'm overseas right now and will be relocating soon so I don't foresee myself making any bold moves too quickly, but I will definitely try and take the time I have to contribute back to the community, that I have learned so so much from and continue to learn as much as I can. BiggerPockets is an amazing community and I'm glad to be a part of it.

Hi Jay!

Glad you made the decision to use what you've earned, and start working towards financial freedom! Are you planning to stick with Single Family Homes, or have you considered multifamily homes? You mentioned that you are looking towards educating yourself in the next few months, below is a good link I used to learn a ton about the VA loan and its entire process, from eligibility to reusing the loan. Good luck Jay!