Buying rentals in lower class areas near military bases?
Well, first I'll start with an explanation on what exactly this entails for those not clear of what generally compromises a bases surrounding area. Most AF bases are relatively in the middle of no where. Usually standard fast food joints in the immediate area+some small neighbors(though generally "low class"). Then 30 mins to an hour away you get your major "nice" areas. Most of the lower ranking guys will rent in the low class neighborhoods, then higher ranking enlisted guys and officers usually can afford the further away nice areas. I personally know of guys who are currently renting 2br mobile homes for 1200 a month+utilities at my base. Try 1500+ for any half decent houses. Even with the crazy high NJ propert taxes, I'm seeing great cash flow opportunities. Not to mention, I am military myself. A quick call to their supervisors will have any rent issues sorted out immediately(financial issues are taken very serious)
Anyone on here do this? I'm thinking about starting off with homes either in the 40k range needing light-moderate fix ups, or around 80-100k that are fairly turn key. I'm just kind of looking at this and thinking,"if it sounds too good to be true, then you are prob missing something". I'm not expecting a perfect process here, but it just seems too easy to find good cashflowing properties knowing the rent prices and looking at housing prices.