I’m looking for some good advice. I am in the military currently in Hawaii. I’m transferring to San Angelo, TX in September and planning to purchase a personal residence there. I will only be there for maybe three years. I’m excited and ready to get in the game but nervous at the same time. I don’t think Hawaii is a good place for me to get started with the market the way it is. (I could be wrong since I am a novice). San Angelo is a small city but growing (so I am told). Should I just wait until I get to TX and what should I be doing to prepare in the meantime? Any advice will be great!
George
If you are in the military and have never invested, I recommend NOT starting in Hawaii…it is way too expensive and you probably won’t get a positive cashflow. I gotta believe San Angelo would be a much better starting point.
If there is a military base there (USAF, I assume) you have a built-in rental base…and you can use the base housing office! I live near an AF base and they make superb tenants – they receive monthly housing allowance (it is for housing so you’ll get your rent) and the folks are already sorta regimented (sorta – it is the AF!)…
I also think you’ll be much happier starting out to be near your investment rather than ‘an ocean away’…
My two cents…
And…thank you for your service!
Keith (retired Army - HooAh!
Thanks Keith! I’m Army also. Working on retirement. Did you start investing before you retired? How difficult was it?
George…
I owned a property during my last assignment in Phoenix. It was not at all difficult. It was a little 3/2 with $225/month positive cashflow. I bought it on a HUD assumption.
Make sure you’ve read up and then start with one. You’ll probably do fine.
Keith