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!
Links from the Show
Join BiggerPockets for FREE
Property Manager Finder
Find Investor-Friendly Lenders
See Dave at BPCON2024 in Cancun!
BiggerPockets Real Estate – Episode 734: Seller Red Flags I Should Have Seen Before Doing a Nightmare Deal w/ David Pere
(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
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