Every PCS comes with packing up, moving everything you own, and ultimately deciding between the 3 options set before us with every new assignment. Live on base, rent off base, or purchase a home. While all options have unique benefits and sacrifices, purchasing a home allows you to actually make an investment with your money.
Think about how many moves we make over the years. How can all this relocation help in creating or expanding your own investment portfolio? Simple, make your moves work for you!
Every person's financial goals and opportunities are unique, having our EOD Home Buying trusted team behind you to help guide you in what is best for YOU!
EODHB had the opportunity to learn about Army EOD tech, Erick León's, personal experience in doing just that. Ultimately, he has created his own wealth and residual income through his PCS moves. Here’s what he had to share with us.
Erick León's Story:
EODHB: Erick, tell us a little about you.
Eric: I would like to start by explaining why I started in real estate and not how. I grew up in New York City where my parents rented their entire lives, and still do. Both are now retired and still renting. My parents’ ability to build
wealth at their age is non-existent. They never became financially independent, and unfortunately never had the opportunity to contribute to my life financially and will most likely have little impact on their grandkid’s financial futures. I am sure it pains them to not be able to provide more, especially when I currently cover some of their monthly bills. I realized after the first few military PCS moves, going from one rented home or apartment to the next, I was on the same path of wasting money, not building sustainable wealth, and slowly waiting until retirement to again budget my savings enough to survive until social security kicks in. My path to change this started over five years ago. Before PCSing to the Northeast region, my wife found a realtor online for the area, and she guided us through the steps we needed to purchase our first home. We had to get a pre-approval with a lender before arranging our trip to view homes, so we could know what price range we qualified for.
EODHB: It’s great that you were able to take life experience and turn it into something to help you and your family. How did that process work for you?
Erick: Less than a year after our first purchase, we moved again and bought another home. Two years after that I PCSd again and purchased a third home. I purchased these knowing that I would soon PCS and want to buy again.
EODHB: Real estate can really help a family build wealth and you seem to have a great plan in place. Is there anything else you’d like to share?
Erick: Having the prior home purchases pay for themselves by renting each out, the focus now has shifted to buying investment properties. Properties strictly meant to make a profit by renting out short or long term. I purchased three properties last year and will exceed that this year. We did our research before buying each property, but the vast majority of our understanding came after we made that first purchase and the experience that came with it. The first step was the hardest, and I wish I had started earlier.
EODHB: Thank you so much for taking the time to sit down with us.
Creating an investment portfolio in real estate can be daunting and a little intimidating, but that’s where we come in! Having a supportive and a knowledgeable team behind you can make all the difference. At EOD Home Buying we have a nationwide network of real estate professionals to help with all your needs and a lender who is prior EOD. Let EODHB help connect you with the right people, and make that first step a great one.
Thank you Erick for sharing your story!
Written by: Carol Weant & EOD Home Buying
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