Jessica Evans
Have you ever considered real estate investing? You might want to in order to boost your financial readiness.
We’ve all been there. Three years in a duty station here, two years over there. You can either move around the country and the world and rent apartments/houses the whole time, or you can look for ways to make your constant PCSs work for you. How? Through real estate investing.
Military life and benefits are great for real estate investing. First of all, you can use the VA Loan. With the VA Loan, you can buy real estate, up to a four-unit building, for no money down. If you invest in a fourplex, you can rent the other three units to pay your mortgage. Also, you can potentially even live for free, having paid no money out of pocket to begin with. With this method, you can pocket your entire housing allowance.
Because you relocate every few years in the military, you can re-use the VA Loan every time you move. Then, you simply rent out the entire fourplex at your old location. If you are on a large military installation, there will always be a flow of service members coming into whom you can rent.
It’s also important to know when not to buy. If you’re in an expensive market, buying might not be the best idea. You also shouldn’t buy a property that you won’t make much money on renting (like a single-family home) if you’re going to have to move.
David Pere is a former active-duty Marine who is on a mission to educate the military community about financial readiness. Most people hear that term and roll their eyes, but Pere wants everyone to know that readiness can be achieved – without a lot of effort. He teaches personal finance and real estate investing to service members to help increase savings and increase their chances of achieving financial freedom.
Want to learn more about Pere? Check out the Military to Millionaire website, and connect with him on Instagram or Facebook. Subscribe to his YouTube channel here! Take a look at David’s book – The No B.S. Guide to Military Life here.
Looking for more ways you can be financially strong? Check out what’s new on our Mighty Money page.
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