Hey hey what's going on guys? How are you guys doing out there? Mike foster in the house again and this episode is going to be something a little special. I am actually on my way back from deployment in the Middle East. Right now we have a brief stop in Germany and we are heading home. I'm super excited and I really want to kind of touch on some lessons learned from this deployment with investing, in real estate and just you know stuff that I've learned, stuff that I wish I could have done better, stuff that worked well and just kind of impart a little bit of advice and some wisdom for those of you who may be trying to do the whole balancing military and an investing lifestyle. Either while on deployment or back at home and some of these things hopefully will be able to resonate with you. So yeah I hope you guys enjoy this and let me know what you think.
Hey freedom fighters welcome to the active duty passive income podcast. The only place where military members, veterans and their families learn how to build wealth through real estate investing. I'm your host Mike Foster and I'm here to show you how to stop wasting your benefits. Now get off your ass, step up to the firing line and make ready for today's lesson. Shooter stand by.
Hey hey what's going on guys, Mike foster here? Man I'm telling you this is an interesting episode. I hope you guys forgive me and forgive the noise in the background. But I couldn't help but take advantage of this opportunity. We have a brief 3-hour stop here in Germany on our way back from deployment and I figured that this is a perfect time to kind of recap some of the lessons learned that I had here from investing while on deployment. For those of you who are trying to balance the investing and military lifestyle out there, I'm telling you it is possible. It is difficult, but it is doable and one of the big lessons learned that I had is just making time. Right now making time is very important in any lifestyle choice that you have. Especially if you're trying to juggle you know multiple things at once. There are 24 hours in a day and you have to be able to take advantage of every hour that you can to better yourself and whatever it is that you're you know trying to accomplish. So set your goals early alright.
I guess that's another lesson learned or something really that I did well. But set your goals early. Whether at the start of deployment or just beforehand and make sure that you keep yourself focused on attaining those goals and you know with this job, with the military lifestyle it is very difficult. Because I mean we work around the clock and at any point you can be called back in to handle anything. Whether it's maintenance, whether it's a situation that develops or whether it's watch. Because you know we should be man a 24-hour watch. But you know definitely make sure that on that off time you're budgeting yourself in your extracurricular, in the time that you know use for rest and the time that you use to invest.
Right so definitely a big lesson learned there. Another one that I'll say is getting issues with your pay handled early and making sure that you follow up. I had an issue with my per diem during this deployment that I took me a little bit to recognize. I didn't notice it at first. But once I did I was able to get the situation addressed. We still had a few issues and there's some that are still prevailing. So I'm going to be getting a little bit of back pay once I get back, which is not bad you know. but understand that you know every dollar that you don't get you know on time is another investment that you could make that might get delayed right or it may you know prevent you from getting into an opportunity that you see something that you want to do if you don't have the funds for it and you can't easily get other funds to replace right.
So just got to keep that in mind. It’s definitely important that you track your pay or you track the money that you're supposed to get and understand when you're missing it, right. So that way you can get those issues addressed on time. But yeah you know but the Navy is, I am sorry the military is generally good at getting your money back at some point right. Of course it takes them forever just like any government job. They’re quicker to take your money than they are to give it back. But once they do, it comes back. I actually saw the money that I had filed for my travel claim back in November, I saw that this deployment. so it was interesting how when I was experiencing issues with my pay I was also able to get back paid like though almost five thousand dollars I spent in posing, which was kind of cool. So that kind of filled the gap. Which is nice.
So yeah meant you know just make sure that you kind of stay on track of that stuff, that's always good. Another thing I wish I would have done was utilizing the savings deposit program. Now I did look into it before coming out and I think I really you know made some excuses for myself and not setting it up before I went. I did have a few issues that came up at home. One in particular I had to take care of monetarily and it was kind of a nightmare for my last week before going out. But regardless I definitely could have set it up earlier and I should have. Because you know it would have been another savings avenue to gain a little bit of bump.
For those of you who don't know what the savings deposit program is, it is a program that's given our benefit right that you have for being deployed in a combat zone. The government will allow you to build a savings account, well they'll give you ten percent return on your investment. Which is great and they'll allow you to save up to ten thousand dollars. So that's a free extra you know one thousand dollars. Excuse me during the time of your deployment. Right so I mean we've only been out here for about seven months, which is great and a nice little 10 percent return in that seven months.
That’s a lot better than you know a lot of investments out there that are really passive. So it definitely would have been a good avenue for me to use and I definitely recommend it. If you're getting ready for a deployment in a combat zone, definitely make sure that you take advantage of it. Because you know I mean even for just an avenue of saving your money, you never know what that you know 10% can help you invest in when you get back.
Right and so I kind of touched on it earlier you know talking about setting your goals early, right before the deployment goes. But have a game plan right before you set out and just kind of make sure you stick to that game plan. Because when you do, you'll be able to maximize you know not only how much you save if that is your game plan. It will also maximize the amount of investments that you can make. So I did have a game plan.
But mine was very loose. Just because I wasn't familiar with the area right. I went to the UAE, went to Dubai specifically and when I got there it was amazing. You know just kind of seeing all the infrastructure and the development growth that had really spun up in a short amount of time and I knew that I wanted to invest. But I didn't really know where. Which is okay too.
Right I mean a lot of times you got to figure stuff out on the fly which is cool and having the 7 months here I was able to learn a lot about all the different diverse markets that exist here in in Dubai, which is cool. but you know having a game plan at least you know with investments that I was still making back at home and how I wanted to handle investments here in Dubai, that would have set me up I think a little bit better and so yeah so just having that game plan, understanding you know what it is you want to do with every dollar that you're going to make definitely will help you up and honestly understand to that you're not going to have the answer right for some.
So making sure that you set aside some money for something that pops up, an opportunity that pops up into your view. You know so having two savings accounts right. one that allows you to save up money for an investment that you may come across your window that you know you want to make, but you didn't know it exists and another account set aside to pull up money towards investments that you have in your game plan all right. So maybe those two separate accounts. That’s something that I definitely would do if afforded the opportunity to come out on deployment again. You know so yeah something like that it's pretty cool.
All right this one's pretty big shiny object syndrome. Now this is huge and I know I'm not the only one that faces this. So if you're out there and you're yeah you definitely understand the struggle. I understand it too, trust me. Shiny object syndrome is a huge issue for me because I mean ever since I've opened my eyes to this investment world, I'm like a deer in the headlights every single time if something really cool comes up. But you know being able to have something that keeps you grounded, something that keeps you focused so you don't run off into all these investments; that is important to have and again that kind of goes into having that game plan right beforehand just making sure that you're focused on it. Now a good thing about being in the military is that our job is pretty strenuous right. We have a lot that demands of us and demands a lot of our time. so having that aid is great, because that's like an outlet to you know say I've got a little more important things you know well that I'm worried about right now.
So I can't devote a lot of time in learning this new investment Avenue. But also having something on the outside of work right to kind of keep you focused to that helps. Because a lot of times if you have some downtime and again something comes across your window and you're like oh man that looks cool, I want to go after it or I want to see how I can go after it. You know it can draw from some of that time and you may end up making an investment that you didn't otherwise want to make. Now luckily for me that did not happen to me that much. I think it happened a little bit. But nothing that I actually pursued and wasted a lot of money on, which is great. So I lucked out this time around. But you know you never know right. It’s definitely something that to keep in mind for future deployments or future trips. Also fortunately having this job right activity passive income, this definitely helps out a lot for filling that gap of times itself and stuff too. So it's good. Right for just having that focus, having something to help you out that helps out a lot. All right cool um so another one I want to talk about and this is something that doesn't really have to do with investing, you know active investing per se. but more just building a community.
Don’t be afraid to talk about real estate all right. It is really amazing and it'll surprise you how many people are actually curious about the game or how many people are actively involved. I met a few different you know sailors in my unit that are actively investing. One, he owns flipping business and he's been doing pretty well. Another one he has been turning multifamily properties for quite some time. I think the past 10 and 12 years he said and he's been doing very well for himself and it's funny because you have a normal conversation with these guys and you would never know you know and it's one of those things with real estate. You never know who is actively in the game and who's not.
So having that conversation you know not being afraid to talk about it, whether you're just getting started or whether you've been doing it for a while is great. Because you can build a network right, you find people in your community to talk about these things with and it kind of keeps you grounded. It keeps you focused. Especially if you're thinking about getting started, I encourage you to talk about real estate even more. Because again you don't know who in your community is actively investing and you can get some sage advice from people who you never would have thought would have been investing or even referrals right. I mean you never know who somebody else knows, so they might refer you to somebody that can help you out in a major way. So definitely important to take advantage of you know all these opportunities to talk. Then learn right about stuff, knowledge is power. like we always say right I mean the more education you have, the better you'll be able to act when something comes across your view and then of course right being able to take that action right.
That’s even more important. so you never know, you talk about something, you find someone who has been doing it for a little bit, you never know if that may lead into a partnership that later on you two or you know however many people are involved right. You guys go into something together and boom that that gets you started or it furthers you along on your individual journey and yeah you know man it can change your life. It can totally change your life.
So that's pretty much it. That’s what I've got. I feel like there may be some more lessons learned out there and so what I'll do is if I do think of any more I'm going to compile them all in a blog and I'm going to make sure it's posted on our page, just so that you guys can have something take a look at and yeah and you know use if you guys are about to get deployed or if you're currently on deployment and you want to have some things to think about I definitely recommend it.
Alright and this deployment was good. You know I got to say I learned a lot about myself this deployment as well. I was able to accomplish a lot more than I thought I would being away. I am actually on the verge of closing on a triplex right now in Mississippi, which is really cool.
Hopefully, if everything goes out I will have picked up a new strategy that I've never used before in financing and I will have spent none of my own money down to acquire it. So I'll definitely keep you posted on that purchase and can see how it goes. Yeah and I'll definitely write something about it as well cause it'll be pretty cool. It’s an investment I'm making with a buddy of mine too. So again kind of you know alluding to that whole partnership man. You never know who you may work with down the road that help you out. So put it in the atmosphere all right, make sure that you guys talk about this stuff. Whatever it is you want to do. It doesn't have to just be real estate, it can be anything.
Anything that you have goals about. The more you talk about it, the more the universe conspires to help you out. I found that out and actually you know this kind of alludes back to my favorite book and I want to mention it here and I'm going to post something about it in the show notes for you guys. The alchemist, if you ever get a chance to read The Alchemist by Paulo Coelho; I highly highly recommend it. That is my favorite book by far and it's about this boy that you know goes on this journey to find his personal legend and he has no idea how. He gets this dream right that he's supposed to find this treasure and he has no idea how to find it. But he sets his sights on finding it early and he meets a whole bunch of people along his journey. He follows these omens and eventually the universe conspires to help him out and it's so symbolic to life. It’s funny you know when you take the time and you realize you know when you set your goals early and you speak them into existence and just the way life kind of plays out. It’s funny you end up accomplishing more than you think you do and it's great.
Because, the world, the universe really does work to help you out if you open your eyes to the possibility of it working and when you see the omens right, you see these opportunities that exist out there you act on them. It’s just like stepping stones right. It eventually one thing leads to the other and you find yourself exactly where you wanted to be if not better, usually better. But you will never get there if you don't take that first step and if you don't you know start your journey out.
So that's pretty much it. That it is honestly you know some of the big lessons that I had just in life in general right you know with that book. But you know take the lessons that I've listed here and I hope it helps you. Hope some of them resonate with you. if there are any questions that you guys have as always you know make sure you reach out to us on Facebook, reach out to us on our Instagram; www.activedutypassiveincome.com. We are dedicated to helping you guys understand your benefits and how you can use them to leverage into starting your way towards financial freedom to real estate investing alright.
We are dedicated and we are committed to making sure that you guys have what you need to get yourselves up on this journey. Okay so all righty way thanks again, hope the noise in the background wasn't that bad and thanks for listening. Can’t wait to reach out with you guys in the next episode. All right take care.