Another President Bush in the Making?

George Bush soon may be serving in George Bush's war.

The Bush in question is George P. Bush, the 33-year-old eldest son of former Gov. Jeb Bush, R-Fla., who's widely viewed as the heir to the family's political legacy.

"P" now works at a real-estate private equity firm in Austin, Texas, where he's stepped up his longstanding efforts to reach out to Hispanic Republicans by starting a new political action committee.

He's also preparing for possible deployment to Iraq or Afghanistan as a member of the Navy Reserves, where he's served since 2007 as an intelligence officer.

"It's been communicated to me that it's not a question of 'if,' it's a question of 'when,'" Bush said of possible overseas deployment, in an interview this week with The Daily Beast. "It's just a matter of time."

The possibility of his being sent into a war zone -- combined with a new political action committee he's forming to help recruit Latino Republican candidates in Texas -- has renewed speculation of an eventual return to the family business for a man who has an uncle and a grandfather who became president.

"Come on -- jump on in," said Michelle Dean, national communications director for the Republican National Hispanic Assembly. That organization was launched by George P. Bush's grandfather, George H.W. Bush, when he was chairman of the Republican National Committee in the early 1970s.

Dean said George P. is "absolutely huge" among Hispanic Republicans, owing to his Latino heritage -- his mother is from Mexico -- fluent Spanish, famous name and the good looks that once earned him a place on People magazine's list of 100 top bachelors. (He's since gotten married.)

If he gets into politics, "He'll have an immediate base," she said. "And with his PAC -- I think that's going to be just huge."

The recent developments suggest to some political observers that Bush is game-planning a run for office, using Texas -- with its fast-growing segment of Latino voters -- as something of a base.

'P' Is 'Earning His Spurs'

"He's earning his spurs," said Bruce Buchanan, a government professor at the University of Texas at Austin. "It all looks like it could be the pieces of a strategy."

George P. Bush did not return a message from ABC News left at his office.

Bush first crossed the national radar as a speaker at the 1988 Republican National Convention, where his grandfather received the presidential nomination.

His star grew in 2000 and 2004, while his father served as governor of Florida and he hit the trail for his uncle, George W. Bush. He was a popular presence as a campaigner, particularly among Hispanic voters, many of whom long have had an affinity for the Bush family.

In the meantime, Bush married a law school classmate and has practiced law. He now works in real estate in Texas.

In 2007, he signed up for an eight-year stint in the Naval Reserves -- a decision, he has said, stemmed in part from the commissioning of an aircraft carrier named for his grandfather.

His new task, as co-founder of Hispanic Republicans of Texas, will involve mundane but critical work -- finding candidates to seek office at the state and local level.

Republicans in Texas and across the country have lost significant ground in recent years among Latino voters, driven away in part by the anti-immigration fervor in some segments of the GOP.

"The future of the state of Texas is Hispanic," Bush told The Dallas Morning News last year. "If we don't change with the demographic profile of the state, we run the risk of losing future elections."

If Bush can establish himself as the face of a new, Hispanic-friendly GOP, he might be able to build a formidable political identity in Texas and beyond, Buchanan said.

The Bush name is less toxic in the Lone Star State than in many other parts of the country, and is likely to carry less negative connotations with time, he said.

"In terms of how Bush's name works in Texas, [it works] pretty well, but not as good as it will be after the passage of a little more time," Buchanan said.

By all indications, Bush isn't in a rush. But some Hispanic Republicans can hardly contain their excitement.

"Nothing surprises me about George P. Bush or his wonderful family," RNHA Chairman Alci Maldonado said. "George P. Bush is a patriot, a great young American and a role model for all Americans."