Question for House Hunting for Disabled Veterans on pensions-House 'Flippers' Are Too Stubborn!

9 Replies

Question for House Hunting for Disabled Veterans on pensions: I'm trying to help a service connected Veteran figure out possible places to relocate to since he is in no condition to work and Reno along with other areas in Northern Nevada do not have the type of homes on acreage that were available a number of years ago in his VA loan qualifying range of 100% loan to value of around $150K
I've tried to find real estate sites where Veterans might post their Veteran owned homes too but no luck really, military.com has some postings but no 'best fits' I've tried finding properties that have long 6+ month histories being listed for sale, then cross referencing the tax assessor's ID number from the nnrmls.com site via public records on netronline.com to determine approximate loans against properties and/or the transfer value the current property owner paid. Often here is what is happening: we are finding a fair share of people who paid $60,000, $76,000, $86,000 to around $120,000 at auction from 2008 onward (through the mortgage meltdown) for 3-4 bedroom 1500 square foot + homes on 1 to 10 acres who are clearly stubbornly looking to 'cash in' at 2 to 3 times what they paid by keeping the homes on the market beyond 6 months! If I was in their position and knowing the market is about to take another dump by the end of October I think I would welcome a return of $80K to $120K by going over to the Veteran's Service Office (Where the VFW, DAV and other Veteran's Service Officers are) and leaving fliers showing a Veteran's only special pricing of my property but no, instead some of these people have vacant property that is just sitting there for months listed with 2 to 3 sometimes more real estate offices and beginning to show it because weeds are growing, dirt is collecting and some have been broken into.
If anyone has any better ideas on helping him find the property he wants here or elsewhere it would sure be appreciated.

Be willing to pay market value.    Stop whining about what they did in the past.     Houses sell each and every day, you aren't being realistic on today's values it seems.

He's a Veteran who is qualified per his VA disability pension to $150K. Where else in the country are there homes in the size and max price point of $150K that are within a 10 to 20 mile radius of a VA medical facility. Because he has PTSD a home on 1+ acres would be ideal to give him peace of mind.

Originally posted by @Deborah D'Amico:

He's a Veteran who is qualified per his VA disability pension to $150K. Where else in the country are there homes in the size and max price point of $150K that are within a 10 to 20 mile radius of a VA medical facility. Because he has PTSD a home on 1+ acres would be ideal to give him peace of mind.

Check in Dallas, the VA hospital is in South East Dallas where homes are pretty cheap. If he goes out farther south east he can find homes on an acre or more for under that price range.

How do you know that the market will "take a dump" by the end of October?

@Deborah D'Amico  

PM me.  I have a friend in Dallas who is a realtor.  He's also a veteran and works with a brokerage who specializes in working with veterans and other "heroes" and offers a reduced commission plan for his services.  I think he may be able to help you help your friend.

Originally posted by @Albert Hasson:

How do you know that the market will "take a dump" by the end of October?

Extend and pretend cannot go on forever! I survived the S&L crisis and weathered the ups and downs of markets on straight commission through the mortgage & real estate crisis of 2008 and watch the markets via various sources both trade and mainstream; that's how. Here is a site that can give you a good overview, search it and check out resources as they are provided within articles and commenters, see www.zerohedge.com

Here are some quotes and link to a complete article that was recently released there:

http://www.zerohedge.com/news/2014-09-27/hope-not-good-policy-saxo-bank-warns-entire-world-headed-minsky-moment

'Mads Koefoed, Saxo Bank’s macro economist, projects US growth at around 2.0% for all of 2014. That will be the sixth year with US growth near 2.0%, so despite lower unemployment and a record high S&P500, the economy has a hard time escaping that 2.0% level.'

'

Negative productivity, capital flight and a system built on protecting the elite is failing.

France is now moving from recession to depression. China is moving quickly from denial towards a mandate for change, Russia’s future has not looked this bleak since the late 1990s. Meanwhile, the US continues at a sluggish 2.0% rate of growth. Investors and pundits seem to have forgotten that we were promised 2014 would be the end of the crisis.

Instead, we are speeding towards the inflection point at which debt becomes harder to service because pretend-and-extend policy making has created a depression in investment and consumption.

The public debt loads continue to inflate across Europe: Portugal’s public debt has ramped up to a staggering 130% of GDP, up from about 70% in 2007. Greece’s public debt load, even after the restructuring of Greek debt a few years ago, has swelled to 175% of GDP. The EU now has far more systemic risk than it did at the beginning of the crisis.

With zero growth or as our economist Mads sees it, 0.6% with the arrow pointing down, debt levels continue to rise relative to GDP. And most importantly, the current flirt with deflation will make servicing the growing debt even more expensive.

The nightmare for both the European Central Bank and the world is deflation, as it’s a tax on debtors and a boon to net savers. The new reality is that we currently stand face-to-face with the very deflation risk that just about everyone denied could ever happen when Q1 outlooks were written.'

Originally posted by @Jon Klaus:
Originally posted by @Deborah D'Amico:

He's a Veteran who is qualified per his VA disability pension to $150K. Where else in the country are there homes in the size and max price point of $150K that are within a 10 to 20 mile radius of a VA medical facility. Because he has PTSD a home on 1+ acres would be ideal to give him peace of mind.

Check in Dallas, the VA hospital is in South East Dallas where homes are pretty cheap. If he goes out farther south east he can find homes on an acre or more for under that price range.

Thanks! I'll pass it along and if that's not what he wants I'll pass it along to the DAV manager here in Reno.

San Antonio has a VA Hospital, and lower cost of living. SA has historically been popular with military retirees.

Originally posted by @Carlos Flores:

San Antonio has a VA Hospital, and lower cost of living. SA has historically been popular with military retirees.

Thanks! Will check it out.

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