Hi everyone, I have been learning a lot from this forum, and all its useful information. My wife and I are a military family, and we have decided to take advantage of the unavoidable fact that the Army will keep moving our family around, by purchasing investment homes on every move.
This would be our first investment home, and we are looking for a real state agent that specializes in short sales in the San Antonio area to help guide us through that convoluted process. Any advice is also welcome. Thank you all.
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@Junior Mendoza short sales are a good option but why limit yourself to just short sales? There are lots of other types of homes that can fit your needs. But one of the prominent investment strategies that active duty military use is the "house hack". I'm not sure if you are familiar with this term but it's where you buy a duplex, live in one side and rent the other side. Then the military gives you your housing allowance/BAH/etc. which would essentially pay for the entire mortgage, and the rent from the other side of the duplex is 100% profit. It's the best investing formula that anyone can get. What do you think?
I second that! Unless there's a specific reason you want short sales, there are other easier ways to invest. Depending on how much time is left in your assignment here, the simplest and easiest way is to buy a home near your installation that you will enjoy living in and then rent it when you leave. We did that during our time in the Air Force and it worked out well. It isn't fast wealth, but it works with the military lifestyle. It allows you to enjoy your time here instead of wrestling with the short sale process, and then you can market it to other military members when you go.
I don't specialize in short sales, but I'd be happy to help you find whatever you decide best suits your needs and desires. You can message, call, or text me any time.
Thank you @Andrew Postell and @Sharon Powell for your reply and advice. I have looked a lot into the multifamily option as suggested, and I think I will follow that route as an investment avenue. While I could use our VA benefits for the mortgage loan, I am trying to provide as much down-payment as possible without affecting my emergency savings so that the monthly mortgage payments will be lower than to finance the property 100%+ VA loan fee. Thanks again for your recommendation.
The very best of luck to you! We're all here for each other, on the forum and in real life too.... I'm just around the corner. :) If you would like to compare lenders or to have an extra pair of eyes helping you find your multi-family, let me know and I'll be happy to help! And... thank you very much for your service.
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