Being in the military can present many new and unique opportunities to one who is trying to have the “American Dream” of home ownership. Some choose to live on the military installation they are stationed at, but more and more people are taking the opportunity to purchase there own home and build a life outside of the gates. Some stay away from thisoption due to the unknown future and moves that can and do happen, but there are options that allow for the service member to rest easy with a partnership and help of a professional property management company.
The military has a program available for service members that is backed by the VA. It allows them to purchase homes that are completely financed with no money down, if they qualify. This provides a little extra help to make that first purchase possible.
While in the service many folks find that they dabble in real estate without ever reallywanting to. Having something to call home is a huge plus. The American Dream is owning a home and it shouldn’t depend on your honorable career choice. The problem is that orders to move get sometimes without any notice, and it can put the owner into the game of rent or sell with no time to think really think and debate about it. The benefit to purchasing a home by a military base is knowing that new military will be looking for a place to stay.
Also, on your side is the fact that the military pays its members a Basic Housing Allowance, or BAH. If service members choose to live off base, they can make some money by living in a house that rents for an amount under their BAH amount. You can price your rent just under a certain BAH level to attract those service members and help keep your unit rented longer.
Having properties in different areas can prove difficult, but can also bring into play the importance of partnering with a professional property manager to help you take care of your property needs. Partnering with a company that has a long standing reputation in quality assurance is necessary. The pennies on the dollar you end up paying can create peace of mind worth so much more. Plus, with all the frequent moves that can happen, and the trainings that take you away from lines of communication, why not allow someone who is available 24/7 to take care of your home like it is their own.
Regardless if you are an intentional investor who is preparing for the day when you ETS (leave the military for good), or if you are the investor by chance, partnering with the right company can insure you are always in the right spot.