In this week's episode, we are joined by the author and founder of The Military Guide, Doug Nordman. Doug served 20 years in the U.S. Navy and retired at age 41. In 1999, he and his spouse Carol reached financial independence and has bought and sold homes over the last 37 years. They have also published several books providing a roadmap for service members, veterans, and their families on how they can become financially independent.
Tune in and don't miss this episode with Doug as he shares with us how you can reap financial rewards and how to avoid the risks of real estate investing while on active duty.
In this episode, we explore:
Guest Military Background
Home Improvement and Real Estate
Paths you can use when buying a home
Evaluating a property’s operating expenses
The 1% thumb rule
What it means to become financially free
Doug Nordman served for 20 years of active duty in the U.S. Navy’s submarine force and retired in 2002 at the age of 41. He and his spouse, a retired Navy Reservist, reached financial independence in 1999 on a high savings rate. They’ve lived in Hawaii for over 30 years, and their daughter Carol was born & raised on Oahu. These days Doug enjoys surfing, slow travel, writing, public speaking, reading, home improvement, personal-finance conferences, and more surfing.
He’s the author of “The Military Guide To Financial Independence And Retirement” and founder of The-Military-Guide.com. He donates all of his writing and speaking revenue to military-friendly charities, and he can be reached at NordsNords@Gmail.com and @TheMilitaryGuide.
Carol and Doug are the authors of “Raising Your Money-Savvy Family For Next Generation Financial Independence”, published with ChooseFI Media.
Doug and his spouse have bought & sold several homes over the last 37 years, and they’re currently managing a single-family rental. They’re keenly aware of the financial rewards and risks of real-estate investing while on active duty.
1. What is your number one failure in real estate?
Bought home in every duty station and rented out.
2. What advice do you have for other military investors to be successful?
Follow your interest.
3. What inspired you to marry a military and serve your country?
My friend’s older brother.
4. What is your dream?
Keep living the life that I’m living right now
“If you want to invest in real estate then invest in real estate. Don’t become an accidental landlord.”
“If you’ve reached financial independence on your own, maybe you don’t need that pension anymore or maybe you can buy healthcare.”
Connecting with the Guest:
Military Guide Book