All Forum Posts by: Ben H.

MilitaryByOwner DOT com Have used it successfully for over 6 years. You do not have to be military to use it.

1) The commercial entity managing the on post / base housing is doing the job the previously done by the base. In the past, if a service member wanted to live on base he would simply request housing and then forgo the housing allowance. For the majority of banded now, they have entered in a Public-Private Venture where these companies have signed long-term contracts (something like 50+ years) to manage ALL aspects of the base housing in return for the occupants BAH. So now that same service member who previously never saw the BAH now gets that BAH in his paycheck but then turns around and immediately pays it back to the housing company managing the property. Of note, for most large bases the housing company is specifically built for that purpose. I've that smaller bases oftentimes have a local property management company operating the housing (in addition to its normal business). If your question was about getting the PPV partner to promote your property the answer is no, they will not. While I would never suggest you turn down a source of leads, in all my years in the military and moving I've never used the base housing referral system to find a residence. Similarly, I've never had a lead for one of rentals come from the referral system. All my housing leads have come from Craigslist, Zillow, MilktaryByOwner DOT com, etc. 2) What are the other rentals doing that cater to military? I offer lawn maintenance for an additional fee for my two properties and never had any tenant take me up on it. As for other amenities, if it cash flows, makes you stand out, and reduces vacancies then go for it. 3) 7 miles...all real estate is local. I prefer to live close. I know folks who drive over an hour. 7 miles in middle of nowhere is close, 7 miles in DC is forever. 4) Yes, come in under BAH. They want to move off base to save money. If your home is a 2500 sq ft / 4 BR you are likely marketing for a family with 3+ kids. That implies an older individual (varies) so your demographic would be a mid-grade officer (O3+) or enlisted member (E6+). Look at those BAH rates. But again, you can't charge more than your competition. Regards, Ben

Hard to pin down military to a single demographic. It's all local as each base is different. As mentioned above, understand the BAH rates for the area as that sets the price. Get to know the size of base and the major activities. Is it a training base (which means lots of short-term, young kids)? Is it federal or a national guard / reserve base? Does it have a large operational HQ or is it primarily an admin/support base? Again, no different than understanding the market anywhere, just have to learn the area. As an active-duty member myself, feel free to message with questions.

Thanks all for the considered replies. very helpful to get some other perspective beyond than that which is running between my ears. 

@David Goings, the plan is to set it up as For Sale or Rent...but the initial interest was as a rental in an area that I am sure will appreciate in the next 5 years or so (3 blocks from the river with a great waterfront park and larger homes going in about a half-mile or so away). (Oh, I also saw that story previously...thanks for reminding me about it!)

@Valerie Hiscoe, NO, I'm not interested in painting the whole house on my own! But the painting has to be done so that is absolutely top of the list. The main bathroom has to be gutted due to some mold and floor damage so new cabinets and I'll go ahead and likely tile that bathroom while I'm at it (since the floor is coming up anyway). Thanks for the thoughts on the kitchen cabinets. They are in decent shape for now and I will likely paint them at some point in the future. The flooring in the kitchen (which leads to the 2nd bathroom/laundry room) is cheap roll laminate though in decent condition. Will probably leave that be for now as well. Great suggestion on new hardware and fixtures. Will take a closer look next time I get into the property. Yes, moving the stove has everything to do with its current "orphaned" location in the middle of a blank wall and the hole in the cabinetry. Moving the oven will also re-open the breakfast nook so that is a must happen. To do that will require new countertop.

@John Teachout, the jury appears to be out on whether to replace the carpets with laminate or not. The front room/sitting room (not pictured) and hallway all run together and I will likely have to replace that laminate given some water damage in one area. The rest of the flooring is ok but I've heard so much about the long-term durability of laminate I'm tempted to just go ahead and make that investment. Will make a final call next visit to the house. As for the popcorn ceilings...it will have to come down in the living room given, again, water damage but I'll leave it up in the rest of the house.

So with all that said, I think my current plan is as follows:

1) Main bathroom- fix problems and tile (Has to happen)

2) Paint walls/trim throughout (Needs to happen)

3) Fix water damage areas (remove popcorn ceiling/repaint // replace laminate floor in damaged area if required) (Needs to happen)

4) Move oven (and fridge) in kitchen; re-do countertop as a result; update hardware and faucet if warranted. (Recommended action)

5) Porch/deck off back of house (Recommended action)

6) Backsplash in kitchen (Nice to have)

Those items should not take all $7k. Will report back.

Thanks again.

Ben

Also interested in this topic as well as a corollary: what about a partnership (a money man and the on the ground manager) that invested in rentals vs flips. The difference being cash flow vs a split of a big payout.

Yes. Invest in and around Camp Lejuene. SFR for the moment. Like you said, steady guaranteed market. Any specific questions?

Good evening all,

This is for a rental (unless I get a great offer at the end) but there wasn't a spot for asking rehab questions in the landlord forums. 

Short background: 1600sq ft SFR that should get $900-$1000/mo rent (decent neighborhood but rents are on the low end...I'd like to up them!). After needed repairs (which includes new cabinetry in the bathrooms) and some light landscaping I'll have about $7k to use on more "discretionary" rehab items. This will be night and weekend project for me and since time is of the essence I'll pay a sub for some work and do other work myself. I'd greatly appreciate your thoughts on the best bang for the buck (and if I need to spend the entire budget). If I spend then entire amount I'll be at about 20% CoC.

My List of potential rehab items in rough order:

- Replace all carpet/existing laminate with new laminate (approx 1200sq ft) (do it myself)

- Tile bathrooms/kitchen (approx 400sq ft) (not sure)

- Remove popcorn ceiling throughout (do it myself)

- Paint walls / trim (contract)

- Move a/c unit (contract)

- Paint kitchen cabinets (myself)

- Move oven back to where it should be / range hood and microwave (myself)

- New countertops (contract)

- Backsplash in kitchen (not sure)

- Porch/deck off back door (not sure)

- Gutters (contract)

(First time posting pics to the forum)

What am I missing? Where am I being foolish?

Thanks in advance!

Ben

Forums > Local Real Estate > North Carolina

Try posting in the North Carolina forum.

@Adam Irvin, moving off base really depends on the base rules and housing availability. The majority of large USMC, USA and USAF bases will have adequate on-base housing and yes, have more stringent rules regarding allowing a service member to move off base. For most USN bases, unless you are on a ship, there is likely no housing on base. Bases in metro areas or smaller bases likely have limited on-base housing as well. So, as in most things real estate related, renting to the military is indeed local as well. 

While I certainly would never turn down a potential source for leads, in all my years in the military I never went to the housing office for a list of local housing options and I've never had a lead from posting with them. I strongly recommend anyone offering housing around military bases to advertise on MilitaryByOwner.com. Don't let the name fool you, anyone can create a listing on that site. 

Regards,

Ben