Did you do a 30 year on that first house? I'm PCSing to Colorado springs in a year and want to buy our first house at this base but with the house prices there a 15 year would be really hard to get under BAH

How’s life now? I already own one, going to rent it out. I plan on buying another in the future.

update?

Just curious if the numbers actually worked out in the end. I’ve got 250k after 7 years active duty and could never see tying up any of that money into equity. Instead, I felt it was always better suited in the stock market. Were you able to build up a decent liquid networth or just equity from your plan?

You flew F18 hornets?

@@webfreakz F/A-18, yes.

That sounds totally HOT, Daddy!

check out bigger pockets podcast for real estate guidance

Use your GI bill if you plan on staying in that area !

Nope, buy every time. His reasonings about values are antithetical to reality, since BAH that can’t keep up with appreciation is a consistent problem in basically every military location. Rent when you leave. Start saving for the next house as soon as you move in. I 100% disagree with Dave on this one, it’s what everyone in my family does. As long as you avoid VA loans and master the long distance land lording, it works well. Caveat, you have to be willing to put the work in while you live in it so that it’s ready to print money without headaches when you leave. Dave is absolutely right about location though, don’t do this in rural New Mexico…so it in Salt Lake, Boise, Colorado Springs, etc. And yes, I have an excel sheet full of great repair men and such haha. It is definitely a JOB and not passive. If you think it’s a guarantee and it’s passive, follow Daves advice because you are a renter.

@@RaymondTusk74 Appreciation is just a side issue, he isn't going to be there a long enough for even transaction costs to make sense so it is a bad move to buy. Buying isn't always the smart move.

There are no realtor fees for the buyer. You have closing cost.

@@tonypeters3320 keep thinking that way... The seller figured the realtor fees into the price.

You’re part of the “shouldve bought a home five years ago” club? Lol

@@ErrorPagenotFound-ig1cy who isn’t ?!?

W name

Who wants to be a landlord in every state ? You don’t know repairmen- and every person you knew when you lived there has since got orders too! Don’t be a landlord in a city you don’t plan to return to.

Absolutely i have two rental properties at bases i used to be stationed at , one in a suck location with appreciation of 3% since its in the middle of nowhere and the other appreciating at 5 % near multiple cities the 3% appreciating property positive cashflow $500 a month with rent while , the 5% appreciating property cashflow at $300, buy if you the rent covers the mortgage , taxes , insurance, Property Manager Fee , future repairs and it cash flows … if it doesnt that is when u might refrain from buying … but with my experience u always come ahead getting a VA loan at zero % no PMI and the renter is paying for property is win win all the time ..if you reinvest the cashflow wisely and not spend it

@@aftech7268$800 😂😂😂 Bro that sounds hella dumb. Why tf am I buying a house if I can’t spend any $

More money leaking away when you could've just taken care of it yourself

@@garrenshot exactly. Dude thinks he's just gonna pay the management $100

Or, if you marry correctly, your spouse can manage your rental properties while you are deployed... If you marry incorrectly, you can spend the rest of your life unfucking your finances ... I’ve seen it happen ...

Property management is not that expensive. Most of them are nothing but rent collectors. Furthermore, you don't have the headaches of tenant complaints or costly fines if you're not on top of the laws. In some states you can be fined 75k just for showing up to your property unannounced.

@@musicpro7278 depending if the amount for rent it could be $100. They typically charge 8-10% of your rent so . . .

Same

Better than renting for 20 years and having nothing to show for it when you get out

I regret buying in 2021 honestly wish I would have stayed a renter.

Buy land and a travel trailer. Land is low maintenance

Yes because no one in the military has children.

yeah most junior enlisted don't/shouldn't have kids. in that case they could save a bunch of money.@@A.S2400

He did. It's been that way for nearly two weeks.

No. But, she’s a classy lady.

Nah, but she's a competent host

Crazy that Dave pooped her out