Erwin Jacob Miciano’s journey from a Navy career to a thriving real estate business reflects a strategic use of military benefits to secure a promising future. In 2021, Miciano left the Navy to focus on real estate full-time, leveraging VA loans to acquire a $1 million property in San Diego, co-founding Semi Homes with his wife, Theressa.
Miciano’s career began in the Navy in 2016, where he served as a photojournalist and mass communication specialist. His role encompassed various media tasks, including writing press releases and producing visual content, primarily during his overseas assignments in Japan and later in San Diego. He was offered an ‘early out’ program due to overstaffing in his role, which enabled him to pursue real estate full-time.
His passion for real estate and personal finance was influenced by stories from blue-collar workers achieving financial independence through investing, especially insights gained from BiggerPockets podcasts. This inspiration led him and his wife to utilize their VA loan entitlement strategically. The goal was to purchase a multifamily property like a duplex or triplex, which they could live in and rent out to offset mortgage expenses, commonly known as house hacking.
Stationed in San Diego, the couple benefited from a relatively high housing allowance, increasing their household income significantly. This financial advantage, combined with the VA loan’s zero down payment feature and new legislation lifting loan limits for first-time users, provided them with increased purchasing power.
After an extensive search, the Micianos found a triplex listed at $1.2 million and successfully negotiated the price to $1.1 million. By March 2020, they had settled into a unit while renting out the others, significantly reducing their housing costs. Over time, this property transitioned into a rental asset, contributing to their income.
Miciano described his daily work involving direct interactions with homeowners facing property foreclosures, assisting them in navigating the sales process. His business model not only focuses on acquiring and reselling properties for profit but also on helping individuals avoid foreclosure, creating a sustainable and socially responsible business model.
Living in San Gabriel Valley since September 2021, the triplex continues to generate profit, allowing Miciano to appreciate the newfound freedom of being present with his family. His long-term vision is to remain in real estate, driven by the tangible help his business offers to clients.
Miciano’s transition from military service to real estate exemplifies how strategic financial decisions and a commitment to serving others can yield both personal and professional success. His story underscores the potential for veterans to leverage military benefits for entrepreneurial ventures, reflecting a pathway to financial independence that resonates with many aspiring investors.
Source: Businessinsider
