All Forum Posts by: Elizabeth Colegrove

 We own a rental in Redmill area of Virginia Beach. We have had 2 active duty members so far in the 3.5 years it has been a rental.

The hardest part is that people tie real estate to emotion. I know SO many military member that won't buy a house because they won't be there for ever, yet will pay a ton more in rent. I know quiet a few that won't treat it like a business, because as long as our mortgage is covered they are happy. Yet they get very upset and ditch it a year later when they are coming out of pocket because of repairs or the "stress" yet give into the tenant.

At the end of the day, military members have the training to be successful,. At the same time these amazing officers and sergeants that can lead a group succesfull into battle are the ones that let people move into houses without giving security deposits etc. Sometimes it doesn't correlate over without a little help ;)

 I am 110% on board! Just let me know what  I can do! We have also lost friends, seen families be screwed etc. I started my website, reluctantlandlord for the entire reason that I was TIRED of people tell other military members that buying real estate was an awful idea.  My goal is to pay it forward and help others be successful. As supportive that he military members are to each other, owning real estate still has a stigma. Heck I remember a commanding officer of my husbands, was pisssed that we bought a house in Virginia Beach instead of renting because we only had 1 year orders.

I write extensively on investing in the military. Here is an in-depth article I wrote about the VA loan for BP https://www.biggerpockets.com/renewsblog/2015/12/0.... I am currently working on a free VA loan ebook to help military members this PCS season.

Not sure if anyone is interested, but it would be really cool if we could put an free ebook (like chicknoodle soup for the military investor) together on everyone's investment plan while being in the military. Every investor writes a chapter on their strategy, succeses, lessons learned, etc. There are so manny of us and we have all done it a very different way. Others could learn from what we have done and maybe help break the ice :) Any one interested. 

Look forward to connecting with everyone!!

PS- For anyone who is active duty and has a rental property. I highly recommend you join this military landlords Facebook group. It is an amazing supportive community of military landlords from self managing to property manager, to reluctantlandlord to empire builder. The goal is simply to help everyone succeed. https://www.facebook.com/groups/177308479098790/

 Its not the neighborhood that would worry me its is the base. I cannot remember which base it is in NC but supposedly BAH and house prices keep falling. The on base houses doesn't charge full bah so people can find great bargains so the area is very competitive price wise.

Security deposit at lease signing, prorate rent at key exchange and one months pet deposit if they have pets and don't want to do pet rent.

Investor outside of Fresno, I am really not surprised it went up. For the longest time the short sales/foreclosures were keeping lower than market because people wanted to rent for something rather than nothing. Now that prices have rebounded, people with equity positions are selling. I have a feeling that rents are going to go much higher over time, as as mortgage become higher and therefore rents.

Welcome to BP you will love it here

Good Luck and see you around ;)

Welcome! 

Great to connect! My husband is active duty. We have 7 rentals (closing on the 8th next month). I too love rehabbing but unfortunately most of our investments made sense as shot sales so more paperwork and less fixing :(  My passion is self management and I manage these rentals from all over.

So great to connect to another military wife! I look forward to seeing you around!!

My husband and I have bought a house at every duty station . The first one was a foreclosure fixer that we fixed while we lived there. Than we bought 5 short sales another foreclosure and finally we are buying our 8th house using a cash out refinance. We are strictly buy and hold. We have gotten our downpayment 80% from living frugally and saving. The other 20% was doing a cash out refinance.

 We have bought at every duty station , and than when I worked investment my salary into investment. In 4.5 years we have bought 8 houses (the last one closing next week).

Good luck!

I don't know the area well but do know that military landlords in my military landlord Facebook group having been having trouble with NC area. Just be careful that the area isn't flooded with rentals .