All Forum Posts by: Phillip Tamez

Hey BiggerPockets. I'm currently in the military and thinking about getting out after my contract. Still unsure. My question is, what ways would there be to BRRRR /flip a property is let's say I were to get out of the Navy or pursue a new career choice? Most lenders want a consistent employment of at least 2 years. Would I need to wait or would I NEED to partner with someone and they take of the loan? Are there other ways of obtaining a loan under my name without having been at the job for minimum 2 years?
Any input would be appreciated. Thanks!

@Suzanne Sevier Hello thank you for the reply. Yes I have read the long distance real estate investing book. And for your other question, I wouldn’t be able to use WhatsApp because we don’t have any WiFi/signal in the middle of the ocean. That was basically my problem. The problem isn’t investing long distance, it’s investing long distance while being in the middle of the ocean with very limited communication.

So let’s say I got a deal in January but had to go on deployment in a couple of months after that, would I just skip that deal and not invest at all during my deployment, partner with somebody so they’ll be able to handle all the business ordeals while I’m away and I could contact them whenever I had the chance to? Just seeking advice of people that have been in a similar situation and were still able to pull this off (if possible).

Hey BP,

So I’m in the middle of building my team, talking to contractors, lenders, etc. One thing I still have yet to figure out is, how do I invest and stay on top of things while out in the middle of the ocean (underway, deployment)? I’m in the Navy and will be going on numerous underways along with deployment almost all of next year. Is it a lost cause to try and invest while being away so long? There isn’t much communication except email that works maybe 80% of the time and limited outside call use. Anybody else have insight on how to do this, know somebody that does this (in the Navy), or has some kind of strategy on how to do this successfully? I’m looking to fix n flip a few houses before I start BRRRRing. Thanks everyone!

@Tab Teehee

Hey how’s it going?! Love the topic because I’ve been thinking about this for a long time. I’m currently active duty Navy out in Mayport, FL and have about 3.5 years left on my contract. I know I’m getting out after this contract and hoping I don’t need to get another job once I’m out. Personally I don’t NEED 6 figures to be able to live off real estate (although it would be nice). To live comfortably and within my means, I feel about 7k/month would be good enough. I’m trying to make this while still active duty or at least close enough to where I can still pay my bills so that way once I’m out, I can focus all of my attention on real estate.

Hey BP! So I have a question I’ve been talking with my wife about and trying to find the best way of doing this. So let’s say I bought a 4 plex that’s still tenant occupied, some still having a long time left on their lease. My question is, what/when’s the best way to rehab the property knowing you want to add value but tenants won’t be leaving for a while?

If anyone has done a deal like this I’d love to hear the solution you used. Did you do unit by unit as the tenants moved and raised rents accordingly or is there another way of doing this?

Most duplexes, tri’s and quads I see aren’t exactly turnkey and need a decent amount of work. Any insight would be appreciated!

@Sree Vad Congrats and welcome to BP! I am in Jacksonville as well. I’m trying to connect to people around this area also trying to get going. Keep grinding!

So I have a question for everyone here on BP. What kinds of side hustles, if any, have you done to help being in more money to invest or at least to have a bigger reserve account? I know some will say wholesaling or there will never be enough reserves to start (even though I hear 30k is a decent number). But I’m looking for non-real estate related ideas that some of you have done, apart from your W2 if you’re still working or even just because you really like the side hustle you do.

I’m currently active duty Navy and just trying to see what people are doing out there to generate more income on the side. Thanks guys!

@Brandon Spurlock

Congrats on your successful first BRRR deal!

@Daisy Ferreiras

If you haven't yet, I would recommend reading David Green's "BRRRR" book. He goes into detail before the actual strategy of BRRRR not to "make or force" a deal to work. I think he called him Sucker Sam or something like that. But the main point was not to force the numbers to work because you will most often than not come out of it losing money.

@David Hutson @Anthony Wienke Thank you both for the good advice and reply. I am stationed here for another 4 years and I actually forgot to mention that my wife is here as well (so this property won’t be the one in need of management while I’m away). The only way I would think of this property needing some kind of management is if while I’m on deployment, my wife and kids stay with her parents and we rent our property out or if we Airbnb it. Another possibility is if I purchase a second property and need that one managed, assuming my wife doesn’t want to take on that task. I do thank all of you for the advice and helping out a future real estate investor! I hope to connect with you and more BP members on here soon!