All Forum Posts by: Kennith McLoud

I recently arrived in Enid, OK for military training and expect myself to be here for at least a year, maybe two. I have been researching REI for about two years now and feel like this is the time to get started. I am a recently commissioned officer and will be living off base. This means I'll receive BAH of about $900 a month which I would like to save and have other students here pay for my mortgage, via the other rooms in the house I plan on renting them. However, this is not a guarantee and it leads me to my current predicament. I have been speaking with a realtor and taken several tours of some houses. My plan is to keep the home after I complete training and hire a PM to manage it for me while I'm out of state. My concern is most of the houses that I have been looking at are roughly 170k and while I can qualify for this through the use of my VA loan. I worry the mortgage will be too much and is not feasible at $1,000 a month including the $773 loan, $177 tax and $50 insurance. If anyone has any suggestions or words of wisdom please share as I am all ears.

How do I go about analyzing the market for Kansas City or a new area for that matter. Should I invest in a single rental knowing I am only going to be there for roughly 6 months?

Yeah I figured I would not rent during UPT. I figure I'll be stuck on base because I'm single. That being said, if most of my class is going to UPT in the same area, Vance AFB and would be ok with moving into a place with them if it meant saving money.

I was recently given a job offer in Kansas City, MO at roughly 70K a year. I will be a recent graduate with my bachelor’s in mechanical engineering. However, I am also on track to commission upon graduation in the United States Air Force (prior enlisted 6-7 yrs). I was offered a pilot position and will attend training about 4-6 months after graduation. Leading me to the first dilemma, housing in Kansas City.

I have no understanding of the market up there nor any market for that matter. I have been trying to find a mentor here in town to help me understand how to read listings and what to look for before I move forward. I know that I want to invest, specifically in real estate but and not sure if I should, given my situations. I know that as a military member I will have to move around a lot and I am looking forward to that, but I am not sure how I would be able to manage rental properties outside of a property manager. Many say it is not feasible for small amounts of rentals (in my case maybe 2-3 per duty station).

Because I am currently enlisted, I have access to VA loans and was fortunate enough to graduate debt free and a decent savings account. I have nearly finished Rich Dad, Poor Dad and have been listening to the BP podcast since discovering the site. I can clarify more if needed but could really use some guidance.