All Forum Posts by: Paul K.

Hi everyone,

My name I’m Paul and I’m currently active duty Air Force but will be separating in the new few months. I will be relocating to Dallas and also commute to NW Arkansas several times a year for work. 

I've been searching for a multi-family unit in NW Arkansas and think I have a solid outlook on one or two units that I found this past weekend. Additionally, I am looking for a property west of Dallas in the Bedford/Euless area to make my primary residence and house-hack. I currently live in a SFH in New Mexico that I house-hack and after relocating this spring/summer, I would continue to rent it out for 2-3 years then potentially 1031 exchange into another property.

I discovered BP after learning about the FI movement which totally changed my life. I've always been naturally frugal and have been a huge proponent of passive income but after months of reading, researching, and listening to the BP podcast, I've built up enough confidence and a tiny bit of knowledge to make it happen. 

I knew I wouldn't be able to do it without the help of the BP community so I pulled the trigger on a Pro membership today. 

Glad to be part of the team and I'm always learning but please reach out if there is anything I can help out with.

-PK

Hi Tim, active duty Air Force here. Is house hacking an option for you? I’m super new at all this too but accidental house hacking is how I got started and it helps ease you into real estate and being a landlord. Works especially well with military since it’s usually a really tight knit group, friends/co-workers can refer others, steady income stream, and people PCS in and out all the time. 

Even if you buy just one property and house hack at every new duty station, that's 6-9 properties or more over the course of a 20 year career. I only have one SFH since I just started getting into it as well, but looking at a few MFH and SFH in other areas now and house-hacking in conjunction with everything I learned and am still learning from BP helped me build the confidence to expand.

There are a ton of amazing benefits out there for military like interest free loans that you can use for down payments (I got a $24K 3-year loan with 0% interest a few months ago) or to pay off higher interest loans, SCRA/MLA benefits on credit cards (waived annual fees and additional benefits.. I haven't paid for a flight or hotel in years), VA loans (no down payment necessary, great interest rates), etc.

Every mission/operation has some risk, the trick is to find ways to mitigate that risk to acceptable levels. 

Feel free to hit me up if you have any questions, I’m still learning too! Good luck.