All Forum Posts by: Joel W.

I've been using Areavibes.com for initial research It gives a good idea of demographics for each city and neighborhoods in it.

I was just looking on USAA to see how much of a personal loan I can get, great option at 8.99% for 6 years

Wendell, I would love to know more. Are you open to out of state investors?

@Amanda Arredondo Welcome. Its hard to hear about someone leaving the great land for sunny skies. Don't be surprised if something starts pulling you back to the Upper 1. I can't get Alaska it out of my blood.

As a prior enlisted member and current officer in the military I can say that military service does not mean responsible. A majority of Active Duty Sailors, Airmen, Marines and Soldiers are someo f the most high quality people in our society. At work they excel, but unfortunately at home many have the same issues as the general populace, over extending themselves wihtt heir money, alcohol, and inconsiderate.

Renting to E-5 and above is a good rule of thumb. These people have a few years to mature, have been given responsibility, developed, proven themselves and have a lot to loose. An E-4 and below sometimes has not had enough time to grow up. Like I said, most are great, but some will be some of the most inconsiderate you could find.

I say this as a former E-3, E-4, and E-5 that had a hard time renting at some of my ealry duty stations. But you must settle and buld credibility just as the rest of society. Do your back gorund checks, credit checks, Look at their pay online and ensure that they can reasonably afford to stay in your property (around 30% of your income shoud go to housing)

Here are some websites to help calculate the majority of an Military member's pay:

for Cost of living allowance, and overseas COLA (areas like Alaska with abnormally high cost of living), and Basic Allowance for housing (BAH)

http://www.defensetravel.dod.mil/site/bah.cfm

And Base Pay

http://www.dfas.mil/militarymembers/payentitlements/military-pay-charts.html

I have found since being on BP that many people talk up their successes, which is great, but it creates a synergy  and we often forget to discuss about the reality of life, success is usually preceeded by failures.

As a Newby trying to get into REI I'd love to hear your blockbuster failures.

Thank you all for the responses. I find the most difficult part of jumping into this is my lack of familiarity. My knowledge of areas in Anchorage are 10 years old, everything changes. The going rents are nothing familiar, I use rentometer, craiglsist, and the provided pro formas.  My base strategy will continue to buy single family homes where we are, and hold. I would still like to buy multi-family from afar and hold.  I am unfamiliar with the broker and management companies and do not have a built up trust. Once again thank you

Hello, A little about myself. I am an Active Duty Coast Guardsman stationed in Seattle, WA, married, and father of four. Due to an ever changing life and never knowing where we will be living in the next two years I have found it quite difficult to confidently enter the multi family real estate market. I'd love to find a duplex to occupy, but it is definitely difficult in this area with the current market. Possibilities for owner occupied investments seem low due to our family size. I've settled on the reality, I will likely have to purchase a multi unit property out of state, probably Anchorage, AK, where I am from and will probably end up after military retirement, put 20% down and have it professionally managed. Is this wise? If I do this why not just find one somewhere else and have it managed? This approach is risky as I don't know much about the area, never will anywhere, and have to trust some management company with it all.

The other options are continue to hoard my cash and wait until we transfer and attempt to get stationed somewhere with a market more my size. Or set out and buy owner occupied single family homes at each station.

Thoughts?