Did you know it's possible for just about anyone, even military families, to become investors in real estate. Yes, even on a airman's pay. Civilians or anyone in the military can become rental property owners using one of several little-known techniques to utilize their military housing allowance and other techniques to (a) purchase their first home, and (b), use their PCS as a chance to start a retirement nest egg.
It's actually a possibility to apply your BAH to qualify for a loan. Your allowance can actually make the payments for you. The rates vary with pay scale and your location. It will also vary based on if you have dependents or not. For example, an E-08 in Colorado Springs with dependents is going to receive more housing allowance than an E-02 in San Antonio with no dependents.
The best strategy is to use your BAH Rates in your loan qualification to get a VA loan or conventional loan. It is usually possible to buy a nice home with only your BAH to make your payments.
Is your company relocating you? Use this change in circumstance as a reason to turn your home into income property rather than sell your home.
In some situations, with help developing a strategy to make some income by owning Colorado Springs rentals, you may be able to keep your current house instead of selling it, then turn it into a rental for investment income. With a good property management professional on your side, you can delegate the landlord headaches to them and just let the value of your property build up into a respectable retirement investment portfolio over the years.
A highly experienced Colorado Springs property management firm will be worth their weight in gold to your peace of mind, monthly cash flow, and long term investment portfolio value. Wondering how that could be? Because management companies only stay in business by providing superior customer service to their investor clients. If they can't keep costs down and occupancy rates high, they will lose clients and fail to stay in business.
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