mike0331 Posted August 18, 2018 Report Share Posted August 18, 2018 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 Quote Link to comment Share on other sites More sharing options...
Pluto Posted August 18, 2018 Report Share Posted August 18, 2018 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. MikeIf 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. Quote Link to comment Share on other sites More sharing options...
mike0331 Posted August 18, 2018 Report Share Posted August 18, 2018 Going to use a HELOC and cash out refi. Mike Quote Link to comment Share on other sites More sharing options...
Sabell44 Posted August 23, 2018 Report Share Posted August 23, 2018 Sparing you the classic animals are family members lecture (in the case of dogs), you can have dogs on base anyway. MikeIsn'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 Quote Link to comment Share on other sites More sharing options...
Thedude Posted August 23, 2018 Report Share Posted August 23, 2018 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 helpfulYou 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. Quote Link to comment Share on other sites More sharing options...
Pluto Posted September 1, 2018 Report Share Posted September 1, 2018 once you're a w1 you can live off post if you choose to While in WOFT. I have to live in the barracks? I want to use my VA voucher. Is that at all possible to do while completing my training. 1 Quote Link to comment Share on other sites More sharing options...
mike0331 Posted October 5, 2018 Report Share Posted October 5, 2018 Is the closing something the JAG office or on base housing office will typically help with? Mike Quote Link to comment Share on other sites More sharing options...
Thedude Posted October 5, 2018 Report Share Posted October 5, 2018 Is the closing something the JAG office or on base housing office will typically help with? MikeHelp in what way? For the houses I’ve purchased the closing was done at the title company’s office for all the paperwork signing and transfer of ownership. 1 Quote Link to comment Share on other sites More sharing options...
WApp Posted October 5, 2018 Report Share Posted October 5, 2018 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 Quote Link to comment Share on other sites More sharing options...
mike0331 Posted October 5, 2018 Report Share Posted October 5, 2018 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 Quote Link to comment Share on other sites More sharing options...
Thedude Posted October 5, 2018 Report Share Posted October 5, 2018 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. MikeI 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? Quote Link to comment Share on other sites More sharing options...
mike0331 Posted October 5, 2018 Report Share Posted October 5, 2018 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 1 Quote Link to comment Share on other sites More sharing options...
Pluto Posted October 7, 2018 Report Share Posted October 7, 2018 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 https://www.fha.com/grants/step-up-program-alabamahttp://www.freddiemac.com/homepossible/ 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. Quote Link to comment Share on other sites More sharing options...
mike0331 Posted October 7, 2018 Report Share Posted October 7, 2018 ^Make sure ya'll take your financial advice from "Pluto" 1 Quote Link to comment Share on other sites More sharing options...
Pluto Posted October 7, 2018 Report Share Posted October 7, 2018 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. https://www.military.com/money/personal-finance/credit-debt-management/military-student-loan-forgiveness-and-discharge-programs.htmlhttps://getoutofdebt.org/wp-content/uploads/2012/01/LoanForgivenessv4.pdf Quote Link to comment Share on other sites More sharing options...
ByteFlighter Posted October 7, 2018 Report Share Posted October 7, 2018 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. https://www.military.com/money/personal-finance/credit-debt-management/military-student-loan-forgiveness-and-discharge-programs.htmlhttps://getoutofdebt.org/wp-content/uploads/2012/01/LoanForgivenessv4.pdf Probably a Rucker SUPT guy. SMH AF Quote Link to comment Share on other sites More sharing options...
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