I am working a deal for a duplex in Killeen, TX. It "appears" to be a great place to invest because of the inexpensive properties. I do know that the cost of living is about a third of the cost of living here in DFW which explains why the houses are so affordable....lower rents.
I need to know about vacancies, military concerns, and property management.......the good, bad, and the very ugly side of investing in a military town, specifically Killeen.
Please give me some feedback!
Investing in Military town's can be much like investing in college towns, depending on the demographic within the military you are catering too. The lower enlisted personnel can bring forth a higher risk percentage, as they are younger and may be more likely to cause you issues. That being said, they can also guarantee you a monthly payment as failure to pay can lead to their command becoming involved, if you chose to go down that route.
Turnover rates in military towns can be quite high due to the SCRA, this allows them to break their lease if they receive orders to deploy or to relocate.
Most Military personnel tend to relocate every 2-4 years and can see deployments within that time frame. This can cause you the potential to see more vacancy time, especially as they can leave during the times of year that tends to be more difficult to put tenants in a property (fall-winter).
I have no personal experience in Killeen, however, I have heard very bad things when compared to other military bases. The crime rate overall seems to be significantly high there. Something to take into consideration.
Hope this helps!
One of the biggest problems you will find in Killeen is the crime rate. They have one of the highest crime rates, per capita, in the country.
Thanks for your feedback!
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