Broke to Millionaire in 5 Years w/ Military Real Estate Investing

Episode #982

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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!

Welcome back to the “BiggerPockets Real Estate” podcast! 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!

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!

[TropicTrdr]

Great podcast! I used my VA entitlement to buy a $30K condo in Hawaii in 1978 but later sold it to a friend. I'm retired, have my entitlement and have been considering using it again. This was a timely podcast, especially regarding reusing my entitlement.

[JayAttys]

Nice! Do you have recommendations for lenders who specialize in VA loans?

[manuelllanas]

I has many questions. My younger brother in arms has done something quite amazing and hopefully, I can do the same down the road.

[Paul_Sullivan]

I have a VA loan and want to house hack a 4 plex any guidance or tips?

[MikeCavaggioni]

Great episode and great to see David on the show again!

[dhking]

Great episode, but what’s the name of that orange book in the back 👀

[ringzorj]

how do we get well off in this economic climate? The interest rates to make any cash flow seem to be too high if they were what I have my original loan for 2.75% I could understand how that make extra.

[masterkong]

The entitlement requirement is no more. There is no cap on entitlement unless you are grandfathered in now….