Ep #10: Wealth through Real Estate while Active Duty in the Navy with Tim Kelly
How can you be active in your community and give back to the military? Help active, veteran, reserve, and others in the military reach their financial freedom goals by investing in real estate.
In this episode, Wayne talks to Tim Kelly from Active Duty Passive Income (ADPI) and Kelly Housing Group. Tim is a real estate investor and educator, best-selling author, speaker, and Chief Petty Officer for the U.S. Navy. Tim is pursuing his dream of owning and operating multifamily real estate by investing in apartments, mobile homes, and storage facilities.
Topics on Today’s Episode:
House Hacking: Benefits of long-term buy-and-hold real estate align with financial goals
Network Connections: Build relationships to analyze, own, control multifamily properties
Thank You for Your Service: 1 percent of the 1 percent serve in the military
Real Estate Pattern: Pass the time by continuing to learn and grow personal finance
Education: Find all the ways you can create generational wealth in real estate
VA Housing Assistance: Seek loans to purchase properties and investment opportunities
Military House Hacking Book: Rehab, refinance, and create cash flow multifamily assets
Self-Manage: Do all the hard work, then pass it onto PM professionals to get time back
Efficiency Tools: Time management, documentation, screening tenants, due diligence
Balance: Educate others, pursue acquisitions, and pick up skills by emulating success
Deliver Value: More you grow, more you can give; more you give, more you receive
ADPI’s Three Pillars: Learn, network, and take action
Perfect Partnership: What you know, who you know, and who knows you to close deals
Lessons Learned: Failure is stepping stone to success; choose how to respond
Scalability: Straight shot to increase net worth, wealth, income, quality of life; no regrets
General vs. Limited Partners: One is not better than the other to analyze deals
Mailbox Money: Become owner to produce income, tax benefits, equity, time, freedom
COVID Impact: Invest in workforce and affordable housing to thrive and survive
Links and Resources:
Active Duty Passive Income (ADPI)Kelly Housing GroupMilitary House Hacking by Tim KellyTom Kelly on LinkedInTim Kelly on InstagramTim Kelly on FacebookTim Kelly’s Phone: 847-910-9161VA Housing AssistanceFHA Loans BiggerPocketsRich Dad Poor Dad by Robert KiyosakiGoogle DriveTenantCloudRent ManagerU.S. Securities and Exchange Commission (SEC)USAA: Insurance, Banking, Investments, and RetirementWayne CourregesFree Passive Investor eBook by Wayne CourregesThe Untold Stories of Real Estate Investing Podcast