Posted on Aug 21, 2016
What are some tips for investing in real estate near bases?
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I'm going to be attending AIT (is it still called that when reclassing?) in Ft. Gordon (again) and I have thought about purchasing a home down there for 1) My primary residence while I'm there and 2) Rent out when I leave. What are some tips for renting out a home, near a base when you're out of state?
Real Estate
Investing
Real Estate Investing
Posted >1 y ago
Responses: 4
A good question to start off with is how long are you going to be in that area and are you eligible for BAH? If you will be stationed in an area for along period of time (3 years), then buying a home is definitely a great way to go about things! You're paying your own mortgage vs someone else's. Just make sure you look at the housing market first. You don't want to lose money when you sell. Also, see how long homes stay on the market, specifically the home you buy and ask yourself if you can afford it if its sitting on the market and no one is buying.
Also, if you plan on renting, make sure you invest in a good property manager!
Also, if you plan on renting, make sure you invest in a good property manager!
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Joyce Albert
I'm sorry but... what the housing market is today will have no bearing on the market 3 yrs from now. There are so many factors that can influence.... interest rates, the local economy, employment, and even catastrophic storms.
So be philosophical about it. Whether you sell for enough 3 yrs from now to cover the commission and walk away clean, or you come up a little short... for 3 yrs you've enjoyed a lower monthly cost by paying a mortgage than by renting, AND you've enjoyed tremendous tax breaks by writing off 80-90% of your monthly house note as interest rather than just collecting rent receipts. So buying rather than renting is always a win-win.
So be philosophical about it. Whether you sell for enough 3 yrs from now to cover the commission and walk away clean, or you come up a little short... for 3 yrs you've enjoyed a lower monthly cost by paying a mortgage than by renting, AND you've enjoyed tremendous tax breaks by writing off 80-90% of your monthly house note as interest rather than just collecting rent receipts. So buying rather than renting is always a win-win.
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I am a Realtor in Clarksville TN near Fort Campbell. I always tell soldiers that they should use their VA to buy a quadplex. That way they can live in one unit and rent out the other 3 units. When they PCS, they can do it all over again. When you retire and have had 3 or so duty stations, that's 12 doors you have as rentals to help set you up with retirement. All though I am in TN, I can refer you to a like minded Realtor anywhere in the US.
https://www.clarksvillehomesales.us/best-investments-for-veterans/
https://www.clarksvillehomesales.us/best-investments-for-veterans/
Best Investments for Veterans | Fort Campbell KY and Clarksville TN
Best Investments for Veterans The military is in a unique position when it comes to retirement. Most veterans retire before they are 50 and with all the years of living ahead of them they need to be extra smart with their money. I suggest looking into buying a quadplex ( fourplex to some ). You...
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