Hello all, real estate newbie here! I am active duty military (USCG, in my 11th year) and at the point in my career where I need to start seriously thinking about what comes next. I'll be 43 when I "retire", but the military does not pay you a big enough pension to quit on. I've invested a bit here and there through the TSP and a few personal accounts, but nothing to the level of what I would call enough. I am also the 1/3 owner of a single-family in Savannah, GA, which is occupied by my parents who operate an AirBnB out of a carriage house on my behalf, which covers my share of expenses.
I have been looking for the last several months at options that might lead me to financial freedom, and real estate looks like it will be the way to go for me.
I have about 11k saved in a high-yield savings account, and am expecting to promote and transfer in the next 1-2 years. I have also been approached by my parents about their plans to acquire a second property next year, which I have the option of buying into.
Up until now, I have rented at each duty station. However, I married last year and while we are in an apartment that is pretty nice, I think it's definitely time to start paying into our future as opposed to someone else's. Right now, I am looking to make a two pronged venture: 1) being to start a joint venture into Savannah, GA on a rental property, most likely a BRRR style investment, and 2) use a VA loan to purchase a multi-family and house-hack at the next duty station I am assigned, hopefully to then rent that to someone transferring in behind me when we leave.
All plans are of course subject to change...we'll see what the future brings!
