Episode 115 – Naaman Taylor on The Military Millionaire Podcast

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Naaman Taylor on The Military Millionaire Podcast

Episode 115 – Naaman Taylor on The Military Millionaire Podcast

 

00:00 - 05:00

David:

What's up military millionaires, today's episode is with Naaman Taylor and we're going to talk through how you can use your VA loan to buy some investments like a four Plex that needs work, but also and maybe more importantly, how to use the BRRRR strategy or just invest in real estate. In general from not only long distance but from out of the country.

And Naaman has figured out how to do this. He's done a great job. He was recently featured on the BiggerPockets rookie podcast, and we dug into a lot of good stuff on here, some mindset stuff, and just a really solid interview. And you could hear Alex and I poke jabs at each other throughout. So that's always fun.

If you haven't done so already, I'd love to ask you guys to just leave us a short review on your favorite platform five stars preferably, you know, unless we suck in which case maybe just don't leave us review Haha, but a five star review on iTunes or Spotify or, or amazon music or on amazon music now, but maybe whatever your favorite platform is, and then don't forget to subscribe to the podcast so that you get notified of all our new episodes. And also, just, you know, follow us on social media. We're here to help you guys out and this whole podcast is free. All you gotta do is tune in and enjoy the show.

Intro:

Welcome to the military millionaire podcast where we teach service members veterans and their families how to build wealth through personal finance, entrepreneurship and real estate investing.

I'm your host, David Pere and together with my co host, Alex Felice. We're here to be your no BS guys along the most important mission you'll ever embark on your finances.

Roger Vick one Oscar Mike.

David:

What's up military millionaires. I am here today as your host, David Pere, and I have my co host Alexander Felice in his wonderful pink shirt that he picked out for this episode, as well as basically every other episode. I don't know if he actually washes that shirt.

And today's guest is Naaman Taylor, who was recently featured on the BiggerPockets rookie podcast but Naaman Staff Sergeant Naaman Taylor is currently active duty in the army he's stationed in Germany right now. And he's a real estate investor, he has been using the VA loan and then now he's doing long distance BRRRR investing, the buy rehab, rent, refinance, repeat and using these to build wealth, but he's doing it from Germany, which I think is really cool. Because I mean, realistically, like it's one thing to say long distance investing when you're in the same country.

For some reason, it's understandable so it's a little bit harder to justify that when you're in a country and a lot of people come to me with questions.

So it's going to be fun because we get to poke some holes in those excuses and tell you guys why and how you can invest that way.

So Naaman, welcome to the show.

Naaman:

Hey, what's up. Thanks for having me.

I like it. You said we're gonna poke some holes in those excuses. Because I live with a note excuse mentality.

David:

I like it, I like it. Tell us a little bit about your story for how you got started in real estate investing and kind of bringing us up to date on where you're at right now.

Naaman

Alright, yeah, I'm from Cleveland, Ohio. My mom rented her whole life, we were on section eight and stuff like that. So when I had the chance to actually buy myself a home in my first house, I jumped right at it.

The first thing I bought was a VA loan duplex. In Harker Heights, Texas, I was just promoted to Staff Sergeant able to finally get my own place. So I decided that I didn't want to pay rent. And that also didn't want to pay my mortgage. So I've tried to find the best way I could, to avoid, you know..

So I bought a duplex and I lived on one side and the other thing had a roommate. And that's like the ultimate house hack. I hired a property management company to handle all the expenses. And because I was like I was really young. It was in 2014. I didn't have any experience with owning a home but on managing a property. So I tried to give away as much responsibility as possible.

And then I also bought a single family home, used my VA loan, a year and a half after that house hack that by renting single rooms out to some of my friends, and ended up cash flow and some of that and not even paying utilities or anything. It was a really good setup for me. And I was able to save a lot of money. So my first couple deals were all VA loans. And I've used it again recently. I just love that VA loan investment tool.

David:

That's awesome.

Alex:

Have any of your military service members tracked you on this?

Like, does anybody, I could I didn't do this when I was in the army. But when I did it on my personal side, I had to, you know, a lot of my friends just would not participate. And so like my social circle did change a little bit.

Have you, what's your admin experience doing this full time like the people at work? You know, what do they say? They want to do with you? Do they resent you? Is it awkward?

05:00 - 10:00

Naaman:

No, not so much resentment just more skeptical. They're all like, I don't know, I'm not giving this guy any of my money to go buy a house and in Texas, we live in Germany. Like that sounds crazy to them, you know, so I'm trying to help them understand, like, I have a system in place, I've done this 10 times, you know, this isn't guesswork, I've got a proven model, from top to bottom that works.

And all they really need to do is just learn and and have some money basically, to do it because I'm not charging them anything to do it. And I could, I literally would just give them all the tools that they have, because I truly believe that in the army, maybe not even just the army, but in the military, we don't make enough money. So you got to find ways to create more income. And some of these guys, they want to do it. I work with a few of them on some deals. I've partnered with a lot of people to do a few deals, and some people don't want to have anything to do with it.

Alex:

For sure, yeah.

David:

Yeah.

Alex:

Yeah, learning and having money and being an army, the very, not but not very compatible.

Naamam:

Yeah, those are, those are three things that don't usually fit together.

Alex:

You're the only one.

Naaman:

There's a handful of us, I'd say that.

David:

There's definitely some people who can do well, like, you know, I always I always like to poke fights with people, not fights, but when they say that you don't make any money in the military. Because, you know, there's obviously there's a ton of benefits. And it kind of depends on perspective, right? Like, if you're 18 it's like, well, you might not make a ton of money in the military, but you're doing better than the kid who paid 100 grand to go to college, right?

So like, there's a definite give and take there. But yeah, you got to be creative. And you got to do a lot of learning, if you want to really understand how to turn that into wealth, as opposed to just like a new Mustang or, or whatever.

The cool thing is that everyone goes and blows their money on because I think that's the real problem, right? It's like, we have this culture in the military of like, spending our money on dumb crap, and then being like, Oh, yeah, we don't have any money. Yeah, you might not make a million dollars a year. But the reason you're broke is your fault.

Naaman:

Yeah, I drive a $2,000 car, and I'm getting close to a $2 million portfolio. So it's like, wait, what do you want? You want your $25,000 car and you have no, nothing else?

David:

Ferrari and a rental house.

Naaman:

Yeah, what do you want, man?

David:

Yeah.

Alex:

The reason why I brought that up is like, you know, I don't know if you plan on staying in. But there's not that many mentors in the military that teach you well, look, you know, it's like, you're gonna figure out real quick oh, I can make more money in real estate than I could in the military. So I'm gonna get out.

But it would be nice if they had some mentors or in guys like David, who the younger guys can look at and be like, look, you can do this while you're in. In fact, the military gives you fantastic safety nets, you're like, look, I can parlay all this cash into this. Not really as risky as people think. But certainly more so than a W two, buying real estate, until I can parlay the safety, I can take the safety net for the military and parlay it into a risk income producing a risky income producing, you know any, like real estate.

So I think it's fantastic.

Naaman:

Yeah, to answer your question, I plan on doing my own years, so I can get my retirement. I've already done 11, I joined the army when I was 18 years old. So I've spent most of the years those years that you'll know what you want to do doing this. And it actually ended up being a good thing, because I don't have too much longer to go. And I think I can build a lot of wealth over the next nine years, to where when I'm done with the military, and I'm getting my six grand a month or whatever they're gonna end up giving me after, you know, retirement medical.

Now I'm also making 20 grand a month from real estate. I think that's a good ratio for me, and it's worth my time, because they're gonna paint the rest of my life.

Alex:

For sure, yeah, well, here we have 11 in stay.

Naaman:

Yeah, I think everybody should just do three or four, you get so many good benefits from it. You mentioned that on one of the podcasts or listen to you talk or let me just do three or four years, you get your GI Bill, your VA loan, you get some experience and I get to travel. Okay, you're 18 to 22 that's the perfect time to do all this.

David:

Am I wearing pink? Did we switch roles today? What gives? You're like agreeing with stuff and I'm gonna be the one who gets to poke in and say, hey, I'm at 12 jurco. And I'm walking into the reserves next year.

So I agree with you, though. Like it's, it's it where you're at right now, where I was a year ago in time and service. The question that you're wrestling with is less of a do I have to stay in the military? Because if I don't, I'm going to, like, I don't know what I'm gonna do to survive, right? Like a lot of people reenlist and reenlist and reenlist, because they get to a point where they're like, I don't know what else to do. But you're in kind of the same boat I'm in where it's like, do I want to stay in the military? Because I still enjoy it, and I want the pension or do I want to walk out because you realistically could probably make the transition next year, the year after into the reserves if you want it to.

And I think that's kind of the sweet spot we want people in. We want people in our situation where it's like I love the Army or the Marine Corps. So I'm going to stick around But I don't have to anymore. So I can focus on that.

Anyway all that to say, yeah, I'm in a similar boat, but I'm actually going to be going to be jumping ship next year because I just have personal reasons, I guess but...

10:00 - 15:00

Alex:

Washed out

David:

That's it I'm quitting. I can't handle, you know, eight more years of what I've already put in 12 years. So..

Naaman:

Yeah, it's not, it's not for everybody to stay on active duty the whole time. I don't disagree with that. I battled with that for a few years myself. Yeah, thinking about it back and forth, especially when you get medically retired, you know, some table for almost everybody. So..

Alex:

Oh sorry.

David:

No, your questions are probably better.

Alex:

Are you producing content right now? How did BP find out about you?

Naaman:

I just spent, to be honest with you, I didn't really listen to a whole lot of bigger pockets before I hit him up, I just filled out a thing and said, Hey, I'll come on your show. I didn't even know how big they were or anything like that. I just wanted to get I was like, I'll just get on the show. I was like Philippe and actually seems like they're cool. I'll just jump in there.

And they send email back. Like what's interesting about you? And I was like, Well, I do these things. I invest, from Germany 5000 miles away in Fort Worth, Texas and clean around the base. I'm active duty military, and they're like, Oh, cool. Yeah, you can come in the show.

David:

That's funny.

Alex:

That's a good testament for FN trying so many people just don't ever try at all.

Goodness gracious.

David:

You know, you only have the same number of times you've been on that show as me, so shhhhh.

No. So it's funny though, because if you didn't know, like, if you had known what BiggerPockets is, you might not have even tried, like, I think a lot of people are scared to apply to be on one of our podcasts. It's like, like, like the BiggerPockets rookie podcast is looking for people who may not have 10 years of experience, right? So like, you are the perfect fit. You'd be amazed if you have something unique about your story, like, so that's cool. You just, maybe ignorance is bliss. And you were like, Oh, yeah, cool, little show. Yeah, little did you know,

Naaman:

I'm just about that action, man. I'm like, hey, if I see something I want to do, I'm just gonna go do it. I was like, yeah, I'm interested in it. I just got started in BRRR strategy, like earlier this year. And I was like, I think I can get on this episode, I got a pretty cool, interesting thing going on. I started in June, and we've done so much stuff in just a few short months. And I was and I can add that VA stuff that that was my strategy I was going for for a long time with VA stuff. And I didn't know anything about Brandon Turner BRRR strategy, any of that. Once I saw what I was like, I could totally do that. I'm capable of doing all those things.

So I just got started and hopped on a podcast. And that was it. And I started putting out a couple videos here and there. I try to put out real videos though, not like that I made $80,000 on this flip stuff, you know, like, you get all those. Those are all cool videos, right? And they have a place but like there's some people I put out a video that was like how I made $40 in rent this month, because I had to pay my property management company and like, the real video because no one talks about that. And I was trying to put out some of that kind of stuff. So people realize it's not all just, you know, all wins. There are a few things that you have to do to succeed and, and some trials and tribulations you have to go through with some of these properties.

David:

Alright, so you didn't read Alex Felice’s book on long distance BRRRR investing, because he hasn't written it yet. But I'm gonna get Alex to write a book. So I don't know if that book is gonna happen. But maybe it'll be a self help book.

But I'm sorry, that's just a subtle jab.

Naaman:

I saw that self help.

David:

Alex is not a big self help book fan. So it'd be hilarious and ironic if you ever wrote one.

But what got you into the BRRR strategy? And how did you like you said you started doing it in June. So you didn't. Not like you are doing long distance BRRRR but you started while you were already across another ocean. So I'm curious what got you into that strategy and how that looked that you've done so many in just the last few months?

Naaman:

Dude, honestly, COVID, March, I bought an Xbox. I haven't played video games in like seven years. This is really dedicated to my job. I like creating stuff for my job and stuff. And COVID hit and my work slowed down. I don’t have anything to do. So I start playing like Call of Duty with some of my friends. And I was like, This isn't for me either. And so I started watching YouTube and learning some stuff. And then I ran. I just clipped it randomly and came across a few real estate podcasts. I was always always really interested in it. And I knew about it because I have done some VA deals. So I was like, okay, since I can't use my VA loan from here how I was gonna do it.

So I knew I could flip houses, but I didn't really understand the whole refinancing out of it and keeping them so I started in June, because I had saved some money at a sold house, one of my VA homes, and I had a bunch of cash. So I was like alright, now what do I do? Now that I got my money? I wasn't in a rush either. I was just like nah I got my money. I had done a bunch of research and I knew the area that I was invested in and in Harker Heights and clean around Fort Hood, where I just came from. And I was like, I think I could do some deals there.

15:00 - 20:00

Naaman:

So I started there by just kind of doing some lipstick stuff, painting and fixing countertops and writing those places out around there. And then I reached out to my mentor, whose podcast you guys are on just sighs, and reached out to him on Instagram, because I listened to his episode.

And I was like, I think I could get along with him. So I reached out, and he hadn't done any coaching or mentoring before. But I was like, could you please just like, hear me out? Man, you should talk. So we talked a bunch of times, and I got some good advice and strategies from him. And I started plugging, plugging away in the Fort Worth area. And then I closed on my first single family BRRRR at the end of June. And since then, I've partnered up with two of my other friends and we've done nine deals. And we're gonna keep going, obviously, it's not that hard once you figure out who's gonna fix your house, and if you have some money, so..

Alex:

Are you leaving them on borrowed money, or put them into long term debt?

Naaman:

Long term to 30 years fix stuff. To get the deals done, though I've done some cash that saves some money. And then I got some investors and now use hard money for some deals as well.

Alex:

And you're financing with Fannie Mae mortgages?

Naaman:

Yep. I did and I bought one foreclosure Freddie Mac in Oklahoma. I'm going to go live soon.

Alex:

Okay, but, uh, what's your plan, when you can only get 10 of those? Are you gonna? Are you working on a commercial?

Naaman:

I get, I get 20. Because I'm married, my wife can give me about 10 more of those if need be. But I don't plan to own more than that anyway. I don't want to have 60 single families. But I do plan on going into that commercial side soon.

I just want to get a bit more net worth. And I want to get my friends 10 houses as well. So that I can do big commercial deals with them. That's part of one of my goals is getting my friends rich to not just necessarily make a bunch of money.

And I think I can do that with all of us getting 10 single family houses and cash flowing in here in about 10 years. Everybody will have the mall paid off and you know, that sort of thing. But yeah, to answer your question, I do want to get in the commercial side and probably in the middle of next year. I'll try and take that leap.

Alex:

Yeah, that's what I did. I just started taking other people. That's exactly what I did. Actually, I said, I'm gonna buy these houses, it goes well, and buy some for other people to make them some money. And then they can parlay that cash into bigger deals with me.

Naaman:

Yeah, that's that's it right there. That's exactly it. That's perfect. The perfect strategy in my mind. Not that they owe you anything, but they also want to keep working with you, because you made them some money, you know.

David:

Owe you it's the law of reciprocity. Like if you get them money and you're a good dude. And they've done deals with you like they're naturally going to give back to you.

Naaman:

Yeah the more you give in this business, the more you get. So I try to give away.

David:

I want a side note for like two seconds, because you said something in there that I tell people all the time when it comes to like podcasting or YouTube or starting a brand or starting anything. And you said that you listen to Josiah Smeltzer talking, and you just thought that from listening to his podcast or whatever the you might get along, so you reached out.

And I think that that's something like what I bring that up because Alex and I talk about content producing content a lot. And that just goes to show right there, that you had never met the guy. You're not from his market. And you just heard him talking. And because you heard him talking and got a vibe for his personality, you were like, yeah, this is a good guy to reach out to.

So if you're thinking about doing some kind of content out there, that should be really all you need to know like, you will attract people that are like you just by putting yourself out there as yourself. So cool. little sidebar, but we can. I think that's powerful.

Naaman:

Yeah, a lot of people are a little afraid to take that leap. They're, they're worried more that someone's not going to read their message or that they're just gonna it's not gonna they're not gonna be heard, or seen in like, you'd be surprised. In this real estate world. How many people are so giving? And I tried, I tried one of those people as well. That's why I reached out to him. I was like, sounds like a good guy that thinks me and him could have some stuff in common. And it turned out to be very true. And I was just on his podcast, a release yesterday. Like that's and we're like, we're like friends now, he's a good dude. It's all worked out.

Alex:

Yeah, it's amazing how many people you can be friends with if you just actually freaking try and your motives are pure, like people reach out to me all the time. Just like David right. And like, sometimes people just ask for stuff. And that's fine. You know, I help as long as it's easy. I'm not working harder for somebody else in the work for themselves. But if somebody asked me something, whatever, but then if somebody wants to come out and be like, hey, look, let's be friends, best friends. I'm like, well, let's see, you know, we might be best friends. Right? I did the same thing. If I look at somebody on the internet, and I'm like, that person I need to be fighting to get that person that I need to find that person. It's like, bro, your objection is so easy to take on the internet. Oh, you didn't like my email? Okay, well, moving on.

I heard it all.

20:00 - 25:00

David:

I might not even tell you, even if you ask.

Naaman:

What's funny is, I didn't reach out to anyone else. I went one for one. I didn't email a bunch of people like, Hey, can you be my mentor? I just emailed one person that I watched, and I goes, I have watched a bunch of episodes, but I chose to reach out to that person in particular, not, not let me blast 100 people, which might be a good strategy do, you might figure out, you know, who's gonna actually reach back to you if you don't care who it is, but mine was based off of a personality and what I heard them say.

David:

Well, and more importantly, on the networking piece, if you're trying to build that way, what I would recommend to anyone who does this is if you reach out to people and you get rejected, ask why, right?

Learn, learn what could make things so not that it helped. It didn't I kind of joked about this minute ago, but so I reached out to I won't name names, but some some some billionaire guy who had I found out how to millionaire millionaire or a military background. So I was like, Oh, this guy would be perfect for the show. And I declined very politely. But I asked his assistant, like, okay, awesome. What could I do to make myself more competitive in the future? What would make the podcast seem more, you know, like, blah, blah, blah. And she was just like, I have no idea what his decision making is. And I'm like, Okay, great.

But I have had a lot of people give me really solid advice from that. When I asked that question. And that's like, the one extra step that nobody takes, right? Because you're gonna have people who either ignore you or say, no, not right now. So the question is like, okay, great, what can I do to make myself more approachable, more valuable for you? And if you can do that, like you're gonna bat closer to 100% on networking with people who are out of your league, except no one's out of your league? You're just doubting yourself.

But anyways, all that to say, yeah, it's amazing the power that comes from being able to just reach out to someone online these days.

Naaman:

Yeah, even when I reached out to real estate old school a few months ago, and then we've been talking back and forth the whole time. I just listened to his episode of yours on here. And he told me before his episode released, he was like, the hit that David Pere up and don't mess around, get on this podcast.

You know, he was, you need to get on there because we were talking and he was just telling you like, what he was up doing stuffing fillings coming on here. He's like, you're a military guy, because he had, like, shot me out one time. He's like, you should go talk to David Pere. And then it's funny enough, my friend from Chicago, my friend Shaq from Smart Money approaches when it would put us together. And I was like this, this real estate world as big as it isn't as many people as there are. Everyone's intertwined somehow, one way or another.

David:

Yeah, well Shaq's another guy who he shot me an email one day out of nowhere. And he brought a lot of value. And we started talking, and you know, we hit it off from that. So, yeah.

Naaman:

Yeah, he's like that.

Alex:

I just want to say that even if you do reach out to somebody who's out of your league, they might just help you at a charity, kind of like, when David asked me to be the co host of a multi millionaire, like, if I'm way out. He does not deserve me. There's no way in hell that I should be doing this show. But I'm so charitable. And now look, look, look how far I've taken him. Oh, my God, you're so welcome, David.

So you just never know, you know, you got to try to reach out people. People will help. For a lot of different reasons.

David:

Exactly what it is. Yes.

For those of you who would like to find Alex's original Podcast, where he helps people talk about adventure, they started and hoped they were gonna be around after the year. He only made it through the first season. So I guess he didn't make it. And here he is now.

Naaman:

I saw your personality. I could see a lot of how this podcast works. I think I think David does all the work. And then you just tune in there. Please.

Alex:

Nailed it.

David:

It's funny. It's funny. It's fairly accurate. That's actually like our agreement. David does all the notes and Alex brings all the personality to the show.

Naaman:

Dude, I'm trying to be somebody’s personality. So if you're listening to the video, I'm trying to be the personality somewhere, too.

David:

All right. All right.

So Oh, Alex, he looks like he had a question.

Alex:

Podcasting is a lot of work for all, people ask me all the time. Hey, do you wanna do a podcast with me? Do you wanna do podcasting? You know, I tell them to go do 20 episodes without me first. And generally they make one sometimes most times they make zero yeah start a podcast is a lot of work that's why I put it I love talking to people but that's the easy part. Honestly. Finding good guests, the logistics, the production. The consistency, bro yeah, I mean you can get somebody I love that this every time we have a David where I do nothing and just show up and talk smack. I mean, I'm the luckiest guy.

David:

Alright, so the BRRRR strategy.

25:00 - 30:00
Naaman:

I'm the same way.

Yeah, I'm the same way with my BRRRR strategy, I tried to do as least as possible. I'm like a lazy investor. And it's just hard to be, right. But from here, I can only do so much. So I'm having to outsource all the work, which is actually really cool. Because if you live there, you would probably do a lot of the work yourself or ended up getting all up in the mix and painting yourself and which is fine. Some people enjoy doing that kind of work, but I got a full time job. So I'm more interested in outsourcing all the work.

And I do my best to find someone to take the pictures to do all the construction, property management. I use wholesalers to find my deals, so I don't have any original anything, everything is, you know, from someone else. And everyone can do that if they just take the time and have the patience and you know, have a certain amount of risk tolerance. To try that because I mean, all this stuff I just like I mentioned, and it all it all comes from someone else. I'm just the captain of the team.

Alex:

I love that.

That's what I do. I'm the laziest investor and the laziest guy now. I'm thankful that I can get other people to do 100% of the work on almost all my endeavors.

Naaman:

They were just like repeating with each other. Yeah. I know. It's awesome, though.

Alex:

Yeah, I mean, like, you know, I work hard in certain ways. I'm sure you do too, right, like I work. I work hard. Yes, right here. Right, I worked real hard on my brain power. And I spent a lot of time networking because of my strengths. And it sounds like you're the same way. And it's like, dude, you aren't not good at campaigning, you know, Not good, not good at hiring laborers. You know, I don't want to show the house, I don't want to, I don't want to get my real estate license. I took the test. I failed it. I don't feel like going back and getting it again. I don't care, right. But I know that the mechanics work. So it's like, look, I'll get everybody else paid, right. Everybody will make money on my decisions. I'll take all the risks, and then we all win. Boom.

Naaman:

Yeah. So I'm good at coming up with ideas and making decisions by carrying, it's like, come on, someone fill that fill in the patchwork there like, you give me all the filler stuff.

David:

Yeah, I actually, it's funny that you said that I just applied for a skill bridge, you know, the program you do like the last six months in the military, you can intern with a company or whatever.

So I just applied to be an employer so they can have interns. And the reason being that I need to find an integrator. I'm finally like, I'm just getting to the point where I'm like, yep, I can't keep doing the things that I'm coming up with. I've got to have help. And there's, there's VA, there's outsourcing. There's also stuff like the perfect solution for me would be finding a vet, or finding someone who's like, on their way out and interning, you know, and then and then we find a good relationship, and we build that.

So I'm kind of hoping that that works out for me. Because yeah, same boat, I have ideas. And then I'm like, yeah, we'll do that eventually. Like, yeah. So finding those people to help you out.

Naaman:

How do we make that happen?

David:

So that you could pay the big bucks for right?

So how were you able to outsource all this? How do you build your team from Germany? Like, you already knew some people there, right?

Naaman:

Not in Fort Worth, I just had a cousin of mine that lived out there. She takes pictures for me. And I tried to get her to drive for dollars and find me old houses so I don't have to use wholesalers.

That way I can, you know, make some more money on my deals. But I use a big, big wholesale company. And I have to leave money in some of these deals because I use them. But it's worth it for me because I'm not trying to get rich right now. I'm trying to get rich in 15 years, basically. So I'm buying a bunch of real estate now and let it appreciate and click and cash flow and it pays itself off.

So wholesaling works for me right now when I get back to them, not probably not going to use too many wholesalers, I find my own deals. I think that's going to work the best for me. But I did a lot of calling and a lot of looking, looking people up as far as property management, realtors, other wholesalers construction. I mean, the list goes on and on, right like how to build a team. I looked all people up myself and got a lot of referrals.

It's a big referral based business, you can find one person and crack into a whole pipeline of people. But you have to network, you have to continue to ask the questions, get the references, get the email intros, make the phone call.

So it's a nice action. But once you get it, get it in place. It's really easy. It's just the beginning of a lot of work. So right now I can put something under contract and get it going. I don't have to do anything for like three months until it's time to refinance, right?

Like because I have the whole team in place now. But the first two months, I mean, I was on the phone all the time, so busy all the time, especially because of the time difference. I got off work at five o'clock here and it's already 10 am in Texas. And now I'm working till midnight to get stuff done. Because at midnight you know five o'clock where everybody's closing up, there were a lot of midnight's and a lot of 1am. But now I can go to bed around 11:30.

Sponsor:

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Naaman:

If I can, if I can add, one of the things I'm not lazy about is being accountable for other people's living situations. Because I've inherited some properties that weren't so or tenants whose property wasn't in such good shape. And I tried to do my best to make sure that we fix their floors and paint their house. I got some section eight tenants in a quadruplex that I haven't cleaned. And some of them even though it was a VA purchase, right, and we fixed one of the units up for my wife to live in for a while. But the other units are just pretty bad.

And but it passed the VA inspection barely right, that's kind of my strategy is to try to find when I use VA in some places that don't appreciate as much, I try to find places that are going to barely pass an inspection. So I can still add value without having to try to do things like the 2 or 3 K style or whatever.

So I buy like the worst VA property possible. So I can get it fixed as good as I can to add value, right. But I don't take that for granted. Because some people are out here in real estate for the wrong reasons being slumlords and collecting as much rent as possible. And just adding fees to everything.

I also take into account that I'm accountable for 15 doors, now I'm in charge of 15 living situations. So I do my best to make sure those properties are as nice as possible. And they have the right management teams in there to take care of those tenants. Because at the end of day, they're the ones that are actually taking care of me.

Alex:

I think it's really important.

There's a there's, you know, there is the thrill of the hunt in real estate, which is, you know, kind of the easy part in many ways. And a lot of it is like you said, it's just a ramp up process. Like the first year when you learn how to do it, you get a team in place, like that's the fun part. And then people want me broadly but you know, the thrill of the hunt when that's over now you're left with a 30 year responsibility that is not just some mortgage note. It's somebody's living situation. Somebody lives in that house. And I think it's really important that you say that you take responsibility seriously because I wonder sometimes people you know, they go off on this chase two units thing, and it's like, that's all good. But you have a grand responsibility, a big responsibility, and it's one that should be taken very seriously.

Naaman:

Yeah, show some true leadership and take care of those people.

Don't just acquire as many doors as possible and get them fixed as cheap as possible all the time. You know, sometimes you got somebody grumpy.

David:

I was just gonna say I just want to point out that I think it's cool. From a philanthropic point of view. A lot of people don't like section eight tenants for whatever reason, which I've always kind of disagreed with. I've had several and I'm a fan. There's definitely some benefits. But I think it's cool that you kept section eight tenants given that when you first came on the show you mentioned like you kind of grew up renting and as a section eight tenant, and I think it's really cool that you're like yeah, I'm this is what I like cater to, like, I'm looking for this I'm helping people out like, because I love I think that's a tenant class that you know, people people under undershoot and I love it.

And anyway, so I just wanted to point that out. Like, I think that's cool that you're being able to give back to I mean, theoretically like the next few right like that's super cool from a philanthropic point of view.

Naaman:

Yeah, everybody doesn't start the race at the same point, right. So some people just can't afford to live in places they weren't born with anything, any money. And some of them don't have opportunity the same way.

And that doesn't mean that my tenants are necessarily for those people, but I'm not going to kick somebody out just because they're on section eight or because they get some sort of government assistance or anything like that. We're still doing the first regarding the financial aid thing. Is that section eight, we're gonna keep coming regardless.

35:00 - 40:00

David:

Yeah.

Alex:

I love what I have. I think 40% of my portfolio Section 8 and I love it.

David:

Yeah.

Alex:

I know people are so fussy.

David:

Yeah. When people don't realize, section eight has a negative connotation, but you can be a great person and be section eight like I don't. Yeah, I don't know.

Anyway, that's a whole nother conversation in section eight is not bad, don't judge it.

But Naaman and I have a question for you. We always ask these two questions of every guest. So the first one is an E one e two, or you know, a youngster was to walk up to you ask you for advice on real estate investing or life in general? What would be like the one thing that you feel like you wish that they would take to heart and learn from you?

Naaman:

That's a good question.

I say, probably to travel as much as you can. I think that some of the best people that I've ever met, have been around the world or been out of the place that they grew up in, and personally moved around. Because you really get to know people and you start really understanding what this life's really about.

And so I would say, to find a way to travel, and I got to do that when I joined the army at 18. I lived in Cleveland for a little while there. I mean, some of my traveling was Iraq and Afghanistan. But so my traveling was over here in Germany, getting to go to, you know, Greece and London, and some of the other places that I've been, which is really cool. And you get to see a lot of different people understand a lot of different cultures.

And I think traveling is just something that's so underrated. And that's why I do real estate as well, so that I can travel and take care of my Mom, it's me, I can travel with my mom and my dad, and everybody you know. So that's, that's another reason why I do this. So that I can do those things. So I would tell them, invest in real estate, if that's something you're interested in, but find a way that you can travel and have your time free. And real estate was a tool that I used to do that.

Alex:

Unbelievably good advice, because travel broadens a person's horizons, their humility and their understanding of human behavior, far beyond anything, even reading the book. And it helps you understand and helps you appreciate people a lot more. And while this is a people game, for starters, but secondly, you go through this whole life talking to people, so the more you understand them better. I think that's fantastic advice, actually.

David:

Yeah. And you said, some of that was Iraq and Afghanistan. But the reality is, like traveling, you gain this huge perspective shift, right. So you probably benefited as much if not more from Iraq and Afghanistan, and some of those not so well off countries, as you did from, you know, Germany, or places people want to visit.

So I encourage people not only to travel, but to go to places that aren't on destination lists. Like, that's where you, man, you gain some real perspective about you know, actually, life's pretty good.

Naaman:

Yeah Afghanistan was a very undesirable place for me and you start realizing like, these are regular people whose lives are on the line. And everyone over here is not a bad person. It's exactly such a small amount.

You start realizing that you're like, wait, I was over there as a young kid. I was 19. Yeah, happy in these terrible situations. And you're like, man, it really puts in perspective.

David:

I agree.

Alex:

100% Yeah, people you're like, dude, these are regular people who just got the raw end, they just work we it just makes you feel really grateful. I was born here with a silver spoon. You go if you go to a place like Afghanistan, which I've been to twice, right, and it's like the poorest or like the top one of the closest to the poorest countries on the planet. And you're like they're perfectly fine people. They just weren't born here. Maybe I should stop being such an entitled piece of shit. And I have and it's really good.

Naaman:

Everyone complains about their nine to five. But like there are people, Cielo would love to have your dogs that wish they could have the job that you haven't made the money you make. So maybe that would be workable harder tomorrow, on your job that you hate.

David:

Hopefully.

Alright, question number two, what is one resource, whether that's a book, a course or a website, or whatever that you recommend to anybody who's looking to get started in real estate?

Naaman:

Yeah, I don't read too many real estate books. I put them on every now and then I listen to some podcasts and stuff like that. But a book that really stuck with me that I read and that really love was Shoe Dog by Phil Knight. And it's not a real estate book, but it's a business book. At the end of the day, real estate will end up becoming a business for you if you take it seriously. So it's a good business book. Did you have to bet on yourself and how to leverage right so if You read that book you're gonna you're gonna love the story and it's just a it's about Nike, so anybody doesn't know. It's an interesting story.

40:00 - 42:46

David:

Yeah, I'm a fan of biographies and that style and you need to read more of them. And I enjoyed that book.

Alex:

Lee Lacocca wrote a book and a very, very similar vein.

It was, it was, it's old now. So it's not as popular today, but it's uh, Lee Iacocca invented the Mustang, and then minivan and then he ran Chrysler for a while when they were when they came out of bankruptcy in the 80s. But it's a very similar style to those two books.

So if you're looking for another one, that’s good.

David:

Okay run on.

Alex:

He just recently passed away.

Naaman:

Oh man.

David:

Alright, and the final question, the really difficult one.

Where can people get a hold of you?

Naaman:

Oh, yeah. So I am mainly on Instagram, an uncommon underscore denominator, one. That's my handle. My wife hates my handle, but I love it. I'm most active there. You can also find me on Facebook at Naaman Taylor. But mostly all my stuff's on Instagram. So send me a message you want to talk to me. I do some coaching stuff as well. Yeah, I'd be interested to talk to anybody that wants to reach out to me, I answer everything. So hit me up.

David:

Love it. Love it. Naaman thank you so much for joining us today.

Naaman:

Yeah, thanks for having me, man. I really enjoyed talking about this stuff and getting that message out.

So I'm glad I'm glad to be able to do it on your platform. I appreciate it.

David:

Absolutely, brother, anytime and you know, next time you're in like San Diego or the country, let me know.

Naaman:

Yeah, I love San Diego is actually one of my favorite places. I've been to that one specific time of the whole year and stuff like that. So I love driving over that bridge and seeing the bay. It's a beautiful thing to see. You guys are lucky marine San Diego. I'm going to Fort Sill, Oklahoma next.

David:

The next best thing you got like..

Naaman:

I'm not complaining right because it's so cheap there. But San Diego.

David:

Oklahoma was a good market.

Naaman:

Yeah, it is. Yeah. I'm excited to get to Oklahoma City.

David:

Well, I actually will be moving back to Southwest Missouri next year. So definitely hit me up when you get back to Oklahoma.

Naaman:

All right. We'll do it right around. Sounds good. Yeah.

David:

Have a good day, brother.

Naaman:

All right you too, talk to you guys later.

End:

Thank you for listening to another episode about my journey From military to millionaire.

If you liked it, be sure to visit Frommilitarytomillionaire.com/podcast to subscribe to future podcasts.

While you're there, we'd love for you to rate the show. Give us a review on iTunes. Now get out there and take action.

Naaman Taylor quote about traveling and experiencing other cultures

Episode: 115

Naaman Taylor

Join David Pere and Alexander Felice, with Naaman Taylor, as they talk about building wealth through real estate while serving in the US Army overseas.

Staff Sgt. Naaman Taylor is an active duty army currently stationed in Germany. He’s also a real estate investor, with 15 doors and counting, and has been using VA loans as a real estate investment tool. He recently got into the BRRRR (buy, rehab, rent, refinance, repeat) strategy, and he’s doing it long distance, out of the country, during the pandemic. How cool is that?

In this episode, Naaman shares his no excuse mentality to real estate investing. Stay tuned!

About Naaman Taylor:

  • Works at the U.S. Army
  • Went to Horizon Science Academy
  • From Cleveland, Ohio

 Outline of the Episode:

  • [02:58] Acquiring properties through VA loans, then using the house hacking strategy to pay utilities and build cashflow
  • [06:06] The wrong notion that you can’t make any money in the military.
  • [12:07] Having the guts to try something new and take action
  • [14:07] Getting into the BRRRR strategy in the middle of COVID and while abroad
  • [16:43] The law of reciprocity; the more you give in this business, the more you will get!
  • [18:02] Taking advantage of online platforms to reach out to potential mentors
  • [24:59] Having the risk tolerance to outsource all the work long distance
  • [31:23] Taking care of your tenants so they can take care of you
  • [33:53] Section eight is not bad; don’t judge it.
  • [36:01] Why you should travel as much as you can

Advice to an 18-20-year old:

Travel! See the world, and experience other cultures.

Recommended resource(s):

Shoe Dog by Phil Knight https://amzn.to/365RzNi

Resources:

Follow our journey!

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My name is David Pere, I am an active duty Marine, and have realized that service members and the working class use the phrase “I don’t get paid enough” entirely too often. The reality is that most often our financial situation is self-inflicted. After having success with real estate investing, I started From Military to Millionaire to teach personal finance and real estate investing to service members and the working class. As a result, I have helped many of my readers increase their savings gap, and increase their chances of achieving financial freedom! – Click here to SUBSCRIBE: https://bit.ly/2Q3EvfE to the channel for more awesome videos!

THIS SITE IS INDEPENDENTLY OWNED AND OPERATED. ALL OPINIONS EXPRESSED HEREIN ARE MY OWN. THE VIEWS EXPRESSED ON THIS SITE ARE THOSE OF THE AUTHOR OR THE AUTHOR’S INVITED GUEST POSTERS, AND MAY NOT REFLECT THE VIEWS OF THE US GOVERNMENT, THE DEPARTMENT OF DEFENSE, OR THE UNITED STATES MARINE CORPS.

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David Pere

David Pere

David is an active duty Marine, who devotes his free time to teaching personal finance and real estate investing for service members, and the working class!

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