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Should I Buy A House?


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Since I think I'll be able to keep this under 65K total cash investment, after a bit of sweat equity I think we'll do alright. It's a relatively low risk investment. While I don't disagree that vacation houses are money-makers, I don't have that type of cash at the present time. Also up here in NE it's very seasonal.

My questions here are somewhat specific to the Ft. Rucker area.

 

Mike

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Since I think I'll be able to keep this under 65K total cash investment, after a bit of sweat equity I think we'll do alright. It's a relatively low risk investment. While I don't disagree that vacation houses are money-makers, I don't have that type of cash at the present time. Also up here in NE it's very seasonal.

 

My questions here are somewhat specific to the Ft. Rucker area.

 

Mike

If you have the VA loan you can get the down payment for the property from that. Also, I recommend getting a multi family house so the tenants from the other units will pay your mortgage. Then you can live there for free. Some place you can even profit from.

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Sparing you the classic animals are family members lecture (in the case of dogs), you can have dogs on base anyway.

 

Mike

Isn't on base housing outside of the barracks given to married couples? There's little information in regards to moving and housing accommodations during these transitional periods. Is 1 week between WOCS and WOBC enough time to find an apartment should I need one? Any and all information about this would be very helpful

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Isn't on base housing outside of the barracks given to married couples? There's little information in regards to moving and housing accommodations during these transitional periods. Is 1 week between WOCS and WOBC enough time to find an apartment should I need one? Any and all information about this would be very helpful

You qualify for a normal on post house as a single officer. One week will be plenty of time to find an apartment or townhouse, the market there is usually very open.

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Sorry if this isn't exactly on topic here:

 

I've heard rumblings about Single Officers becoming roommates during WOFT and splitting rent.

 

Is there some type of HRC action that facilitates pairing like-roommates? for WOFT students during Common/Advance or is it a "word of mouth" type of pairing

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Help in what way? For the houses Ive purchased the closing was done at the title companys office for all the paperwork signing and transfer of ownership.

Typically you have an attorney who organizes the title search, MLC, land survey and reviews the P&S, etc. I can probably do it myself but I'd rather have an attorney familiar with AL law and other potential local issues.

 

Mike

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Typically you have an attorney who organizes the title search, MLC, land survey and reviews the P&S, etc. I can probably do it myself but I'd rather have an attorney familiar with AL law and other potential local issues.

 

Mike

I haven’t done that for either of my house purchases. I know there was paperwork detailing the title search/results/guarantee, land survey with boundary markers/easements/etc and obviously the P&S. To me it was all pretty straightforward both times. Is it common to have an attorney review it all and I’ve been doing it wrong this while time?

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Yes, typically. It's usually about a $750-$1000 flat rate fee to have a law office handle the closing. Typically it's a practice that primarily handles closings, and it isn't exactly challenging legal work, but they negotiate the P&S, handle the title search, insurance, looking for liens, getting a surveyor out, etc. It mainly revolves around the P&S, there are ways a seller or buyer will word both the P&S and the offer to provide themselves maximum protection in the event something goes wrong. If nothing goes wrong, then no big deal. A P&S can be used to royally screw one of the parties if they don't know what to look for in it before signing.

 

Mike

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Here are some very good pieces of financial advice. It's hard to find information like this. And most companies will charge you $300/mo. or something like that to tell you what I am about to right now.

 

You can reduce the brokers fees. If you want to apply 3% of the property value towards the closing costs instead of giving it to the broker. You can get your self a real estate license in 2 months after a quick test, before you buy it.

 

You can also get a grant for a 0 or low money down mortgage. There are several, but here are the ones I know of

 

 

Once you have your home. You can start getting into the more advanced debt elimination. It takes a great attention span, and only about 8 years to pay off your home.

 

 

His channel has great financial advice for civilians. Veterans are almost in a separate country inside the united states. Certain states let Veterans eliminate all student loans and give perks to home owners. You should always check with your local home owners association to see what kind of benefits are available to you in your state.

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Haha, thanks. Most of it comes from college, books, and youtubers.

 

Here is an article and document about how to get your student loan repaid if you are in the military.

 

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Haha, thanks. Most of it comes from college, books, and youtubers.

 

Here is an article and document about how to get your student loan repaid if you are in the military.

 

 

 

Probably a Rucker SUPT guy. SMH AF

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