Hello everyone, I bought my first house as a lieutenant in the Army after living in an apartment for a year and realizing I was paying someone else rent when I could be paying myself. The interest rate I got (6.75%) tells you how long ago that was.
Being stationed in Germany put a hold on building my empire, but since leaving the Army I've bought 3 more SFH in Austin. All cash flow positive, mainly due to luck since I can't claim to know what I am doing, besides reading a few books.
My grandmother owned 5 rental houses in Austin, all paid off, and that was her retirement plan. She never had to worry about Social Security checks or anything. I decided to do the same. The market is at a point now where I can't be successful unless I really know what I'm doing so that led me here.
My wife is managing our properties so she's been on BP at times but I didn't know about it until recently when talking to a vet buddy who is also into real estate (lots of vets get into real estate).
At first my goal was to get 5 properties that I could use to retire and then leave to my son. Then I had another son. So I changed my goal to 10 properties. Then I had a daughter. At that point I figured if I was going to get 15 properties (5 for each child) I might as well go all in and shoot for 100. After all, who knows how many grandkids I'll have... haha.
I don't really like the idea of buying 1 at a time, so now I'm looking to move into multifamily.
