Posted on Nov 25, 2013
To buy or not to buy a house while on Active Duty?
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I made two purchases during my time of duty, sold one for profit, one at a loss, so I guess it balanced out.
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Buy. In the short of it, the BAH you recieve is going to go somewhere, might as well benefit you.
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Your right, but should be done with careful planning. As long as money is put to the side and there is a plan, it is a good idea. For example, before the housing market collapsed when I was as an E5 (in 2005), I was offered a 250k mortgage with USAA. I'm glad I did not take it because the value in the area dropped and as of today, I would have no plans in being in the area and it would have created some hardship... due to the lack of money I would have not saving up incase there was an emergency.
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I would purchase a home - but on the basis that I understand it is an investment home - and when I move out I will likely be renting it. That means I need a structure in place so that I am not losing money on being an investor. Here is the place I do my real estate investing through:
http://baggaley.strongbrook.com
It is a do it for you experience, so that I invest as little time and effort while taking less risk and getting the best returns on my investment. Try it out, take a look - you won't regret it!
http://baggaley.strongbrook.com
It is a do it for you experience, so that I invest as little time and effort while taking less risk and getting the best returns on my investment. Try it out, take a look - you won't regret it!
We don't just teach you how to succeed in rental real estate - we do it for you! Our turnkey program averaged 19.8% ROI* last year and has changed rental real estate investing for over 1000 investors ...
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I would purchase my home through Strongbrook so that when I got out of it, I could use it as an investment home and rent it. Here is a website that talks about Real Estate Investing - something you can still do while on Active Duty and will probably replace your income easily if you do it this way.
http://baggaley.strongbrook.com
http://baggaley.strongbrook.com
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Here is a link to my Blog; http://terrymartinback.blogspot.com/2013/08/homeownership-is-not-investment.html
The title is "Home ownership is not an investment". Common mistakes home owners conceive.
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I've seen both sides of this question first hand. I've seen military members purchase homes without any major issues and turn a profit. I've seen others lose money when trying to sell (or can not sell), and have a difficult time with renters when transferring. My advice to anyone wanting to purchase a home while on active duty is to make the best informed decision for your particular situation. Do your research and homework and know your limits and long term plan with the house. Finally, owning a home is a way to turn a profit while serving, but it comes with risk. Renting a place under BAH is a much safer way to turn an instant profit each month without as much risk.
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