First off I have to say this: oldguy, you are WAY to smart to stay on this forum. Yes, this forum is great, but you need to look into others as well! Your advice is always superb!
I still remember when you said you would buy homes and then refinance and invest the cash. So my question is: I currently have around $300,000 in the market and have a guaranteed pension of 4,300 monthly. so I have a lot of upside for risk. My wife recently joined the military and will be moving to Tacoma Washington. Although the houses are fairly pricey (around $225,000 average). She will get a housing stiphened of $1500 monthly for 4 years. Should we buy a house and use that cash to pay down the mortgage, and then rent it when we leave? I feel very confident renting to military and allowing a property management company watch it. Should we do this concept every base she goes to? Is it smart to have real estate all over the country?
Fri Jul 08, 2016 8:55 pm
oldguy Senior Member
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quote: stiphened of $1500 monthly for 4 years.
I would probably invest the $72,000 stipend in the SP500. And do that at each Base, that is easier to mange than a string of houses across the US.
But if you decide to buy the houses, I agree with you - renting to military is a safe bet - they were my best renters.
Fri Jul 08, 2016 10:18 pm
Brownsfan2k5 Full Member
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Well we have to live somewhere, so we either buy the home and rent it out when we leave or pay the $1500 to another landlord.