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oh man, I already know if I get into it i'm going to spend all my money so i've been trying to avoid it at all costs 😂

@ for sure haha, it’s an expensive hobby

Honestly what helped a lot was saving every dollar I was making when I was going through the training pipeline right after I commissioned. When I was at Fort Leonard Wood, I hardly ever went off post, stayed in on the weekends, and grinded my civilian job before and after. I also worked part time during the year and got an internship every summer when I was in college, and some of that money I put into the market which yielded pretty good returns when I sold my positions for the down payment on my first house.

@realprofessoroak Sounds good. Thanks for the response.

Absolutely, I think I could make an entire video about the challenges of property management considering I do all of it myself (at least up until this point), but as with most investments I think the biggest effort is at the entry point when you take ownership of the property and prepare it for tenants + tenant search and screening. If we're considering you buy something turn-key, that makes things a lot simpler, but the opportunity cost is of course the equity you could build from the start with any sort of work on the property to increase its value (to either recoup through refi later or save on CapEx down the road, etc). I think what you find most challenging in managing a rental property is going to vary greatly depending on your location (renting downtown, in the suburbs, in a touristy area, etc), and the type of property you have (if it's SFH, condo with HOA, or multi) For me, initially finding good tenants has been the hardest part, especially considering that I lived in one of the rooms in my first house, and rented the other rooms. Traditionally, renting the entire property makes things a lot easier, but then you can't also live there (which I'm not assuming you would need to do but that's what I did). For the bad, I will say that Airbnb in my experience has been the worst, and I would not recommend it unless you use property management since there is essentially little to no screening, and your property is being used effectively as a hotel. I've found that the longer the lease term for a tenant, typically the better the tenant, among other criteria of course. I generally list a 6 month lease term requirement which works for most reasonable people, and also captures a good part of the market that would otherwise just rent from an apartment complex that requires usually a year or longer. Additionally, the bigger the property, the more maintenance it will require. This is probably obvious, but with more house, there are also more things to break and those things will be more expensive to fix. I will also say that managing property that is out of state is going to be fairly difficult. While most issues can be addressed over the phone with the tenant or by calling a contractor, there are times that I would have spent significantly more money to fix something that I could otherwise do myself, or address a tenant issue in person. Managing the project for my condo in SF was also a real pain, and I would not do it again unless I were living there. For the good, I would say that overall it has been rewarding managing my properties myself, albeit they are not overly complex or beyond 3-4 tenants at most. There are already enough things to pay for with owning real estate, and having a property management company is something hard for me to justify unless I have a dozen or so units or more. I've been fortunate to have really good tenants, but that is also a byproduct of thoroughly screening prospects. The hard work in the beginning to sift through all the applications and interviewing tenants will pay off when you are able to move forward with long term tenants that make your job easy.

​@@realprofessoroak Thank you for such a detailed answer and openly sharing your experiences! Nowadays, I live and work in Slovenia, and almost all of my career has been in real estate. We manage a family residential real estate fund and have done projects similar to yours: buying and selling, construction, renovations, long-term rentals, and short-term rentals. Lots and lots of work doing everything from start to finish ourselves, just like you. My wife and I are working on a start-up in real estate consulting/education focusing on long-term property management. I’d like to share a few thoughts on your reflections in your videos. We both know that the “I made $1,000,000 profit from my first property” stories on YT & TikTok are either BS, luck, or survivorship bias. The real success in this business comes from persevering through the tough journey you’ve been on. In my experience, working in the real estate business is not like buying passive investments like stocks, bonds, or collectibles. You are providing 2 valuable products/services to the market: upgraded properties and temporary places to live. You may not have an LLC but, in reality, you have a start-up. You convert raw materials (your time, effort, capital, old properties, construction supplies, skilled professionals, etc.) into things people want. Just like any start-up you have lots of functional departments in your real estate business: finance, procurement, sales, legal, IT, marketing, operations, etc. The only difference between what you do and what a larger fund does is that you are a one-man army executing the work of every department. And, of course, the learning curve is very f*cking steep and stressful. The beginning stages of start-ups are the most difficult. Sometimes it seems that you underestimate the vast wealth of experience and skills that you’ve gained. While the raw ROI purely measured in numbers in Excel may not reflect where you want to be, you've gained enormous knowledge and come so far. You are still in business and it’s obvious from the things you say / do: you are a professional. Projects that go over the timeframe and budget, teach us about risk factors that will be the foundation for effective project management in future projects. Only when we can do all the aspects of the business ourselves can we adequately assess: are the opportunities presented to you are worth your capital, time, and energy? Only with the experience we’ve gained can we do proper quality control of the work done (like that sexy floor baseboard trim hahaha) and effectively lead the people we hire. My point is this: if you focus on your strengths, keep learning and developing effective systems / processes you’ll inevitably get much better at turning raw materials into valuable products that the market participants want. Sooner or later you will get to the level of profitability that you know you are capable of. What you are doing is admirable. Your passion for real estate, hard work, dedication, and creativity are inspiring. F*ck the FOMO. If real estate is what you really want to do, well, then keep doing it. Go and build the business you want. I believe that you have everything it takes. 😉

Thanks for the feedback. You have some great points, and I think there are definitely pros and cons to every asset class, with RE being one of the more effort intensive in terms of operating for any sort of return, at least initially (and then ongoing capital expenditure with any maintenance, repairs, tenant issues, etc). Over the same time period if I had done a purely ROI comparison to returns in equities/crypto which I don't really post much on the channel, in the last 4 years I've seen give or take a 3-4x return in the aggregate between stocks, index funds, and crypto, albeit a significant portion of that I sold off to fund the real estate projects (renovations, down payments, etc). I think in part, my perspective might be jaded considering I've sunk all this time into weekends at Home Depot instead of taking larger profits in equities, but ultimately as you mentioned I think the skills learned I can certainly appreciate beyond any sort of financial returns I've seen thus far.

@ the bright side is all the experience you’ve gained, should make future operations easier. I am in Cali, and I’ve been researching out of state opportunities, I’m sure I’ll make some mistakes as well haha. But luckily there are generous people like you, showing it all, helping other people learn 👍

He did it with a duplex

I think what he's referring to is using the VA loan for your primary residence and living in it for 2 years, and then moving afterwards. Technically you could, but there's a maximum loan amount you can get using the VA, so the second and subsequent uses of it, you'll only get a partial entitlement and have to make a down payment for the difference. You also have to consider if you're really gonna move every 2 years. Honestly I'm at a point I feel like if I'm going to move so often, it makes more sense to rent, especially considering you won't see returns on your property for years

@@realprofessoroak thanks, so in your opinion what should someone use the VA loan on in order to make profit from it?🤔

@@DrizzyDre7_ I wouldn't see it so much as "profit" considering the first few years of real estate investing you might not see any returns as I talked about in the video. Long term, for sure, but as long as you buy in the right area you can always count on market appreciation. If you're trying to full throttle the ROI perspective on your first house, your DS is on the right track, but you could also go with a home that needs some work, so you can do renovations and get some forced appreciation right from the start. Theoretically, you could then cash-out refinance and use the funds for a downpayment on another property.

LOL thanks ive been bulking for a couple years now

Nice! I want to go to Japan next year

​@realprofessoroak Been going back & forth from SoCal and Japan for 20 years now, atleast once a year for 1 - 3 months. You might want to look into investing in Japan. If need resources, let me know. Btw, its a niche best way for churning cc as well.

Dude do you know what the guy is showing us in the video? Can this device be used by a civilian? Also what environments is this device intended for? Also in which environments this device is used and what it is for

Thank you for this top tier comment

Thanks for the feedback!

pretty much yeah. Which is bs, because female Marines have to do them, why not our females?

thanks !