982: How Military Members Can Use Real Estate Investing to Fast-Track Their Financial Freedom

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 3 July 2024

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Military real estate investing is perhaps the easiest way for veterans to reach financial freedom. Today’s guest is a prime example, going from broke recruiter to “military millionaire” in just FIVE years. And get this—military real estate isn’t just for service members. Everyday investors can take advantage of certain perks, too! During his first seven years in the U.S. Marine Corps, David Pere was a serial spender, blowing each paycheck and saving very little money. But when a friend recommended the personal finance classic, Rich Dad Poor Dad, things finally clicked, and David realized the unique investing opportunities the military provided. Within four months, he had taken advantage of the favorable VA loan and bought his first house hack! In today’s episode, you’ll learn how the military puts you in a great position to take financial risks early in your career. David takes a deep dive into VA loans, their benefits, their requirements, and what buyers and sellers should know. He even shares the best-kept secret in military investing—the Interest Rate Reduction Refinance Loan (IRRRL) program—which makes it EASY for investors to score a better interest rate! In This Episode We Cover How veterans can build wealth through military real estate investing Why the VA loan is the “best primary residence mortgage in the world” What YOU should know about VA loans (even if you’re not a service member!) What sellers and buyers need to know about assuming VA loans How to find a lender that specializes in military loan products Refinancing with the Interest Rate Reduction Refinance Loan (IRRRL) program And So Much More! (00:00) Intro (01:14) Buying His First House Hack (05:57) Military Real Estate Investing 101 (09:11) VA Loan Benefits & Requirements (14:57) Reusing VA Loans & Finding Lenders (18:24) Assuming VA Loans & the “IRRRL” (23:14) HUGE Military Investing Advantages (26:21) Connect with David! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-982 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Happy almost 4th of July everyone for today's episode. Before we get started, we just wanted to say thank you to all of our military service members in the bigger pockets community and beyond on our nation's birthday and on today's
0:14.0	today's episode we're gonna hear from a veteran and seasoned real estate
0:18.0	investor about how military members can start investing in real estate
0:22.0	and what you should know even if you're not a
0:24.7	service member.
0:25.7	Hey everyone, welcome to the BiggerPockets Real Estate Podcast. I'm your host Dave Meyer.
0:35.3	Today we're talking with investor and military veteran David Paray.
0:39.2	We'll hear from David about why real estate is a powerful way for service members to build wealth and why the military
0:46.3	specifically puts you in a really good position to start early and take risks early in your investing career.
0:54.6	We'll also go deep into the VA alone,
0:57.2	how that can benefit service members,
0:58.8	but also we'll talk about how other investors,
1:01.5	non-military members or veterans, can potentially
1:03.8	benefit from the VA loan as well. So let's bring on David.
1:07.5	David, welcome back to the BiggerPockets Real Estate Podcast. It's great to have you here
1:11.8	again. Thanks for having me brother.
1:13.0	I'm excited to do this one.
1:14.0	For those who haven't heard your previous episodes,
1:17.0	can you just give us a little bit of your backstory?
1:19.0	From what I understand, you started investing
1:22.0	while you were still active duty is that right that's
1:24.9	correct yeah I joined the Marine Corps in 2008 because I you know basically all the I didn't have money
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.