All Forum Posts by: Michelle Krupa

@Clay L. If you don't know already, KC just approved to build a new airport so that's pretty exciting. We live in the Parkville area. Parkville Coffee is a great local spot. Anywhere in the Park Hill School District is highly desirable but harder to find deals in. I would pretty much stay along Rt 152 in the Northland. You'll find coffee spots, breweries, and restaurants scattered throughout this area. Feel free to PM me with questions. 

@Thomas Wolff, I'm also in KC and might be interested if you want to PM me. Thanks, Michelle

@Krista Dodson, Yeah I would definitely hold on to that! That area is one of the under developed areas of Arlington and the Columbia Pike corridor is slowly being built up. I think they axed the trolley system they were going to put in there but still a good area. Plus, you have Joint Base Fort Myer Henderson Hall there so you have the military community as potential renters. That base only has barracks for singles and some housing for the top generals but that is all. My husband and I met when he was stationed there and we got married right on base. You don't necessarily need an LLC, a good umbrella liability policy can protect you, but if you're expanding your empire then an LLC might not be a bad idea. Please PM me if you have any questions!

@Shaun C. Beautiful dog! 

Hi @Jamie Engledow. I agree I wouldn't hire a real estate agent to rent out your property. I would only use them as a possible resource if you need help determining your rent rate. 

@Brendon Botelho, Look into a 1031 exchange or keep it as a rental. You'll need a real good property manager which honestly is hard to find or take on the task of self management. We self manage our long distance rentals and I spend less time self managing than I did managing the property managers. You just have to plan with a long distance rental. Plan on making annual trips down to check on the property which you can write off as a business expense and enjoy a trip to the beach while you're there. Check out The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han on the BP Marketplace. 

Since you are near a military base, look up BAH (basic housing allowance) for the area. It's public knowledge. Just keep in mind that BAH should cover rent and utilities combined. The sailors next door receive BAH. Of course, look up other rentals in the area for comps. You can also consult with a real estate agent or a property manager to help you determine your rent rate. 

Best of luck! Congratulations on the new baby! PS - I started self-managing when my first born was just a few months old. You can handle it! Please feel free to PM me with any questions about renting to military, long distance landlording, or how to do it with a newborn! 

The most aggressive dogs I've ever encountered are little yippee dogs with Napoleon complexes (sorry small dog breed owners, just my experience). We all know pit bulls get a bad rap and I will refrain from going on about that. I have 2 pit mixes and well they will lick you to death. Anyways, just look into an umbrella liability policy. ANY dog can bite and cause harm. If you are overall uncomfortable with renting to dog owners, then don't. If you like dogs, take dog owners on a case by case basis. We love dogs and encourage dog ownership especially rescue dogs. As landlords, we understand the added wear and tear, have adequate insurance, and thoroughly screen our tenants.  We know how hard it is to rent with big dogs and bully breeds and we personally are willing to take the risk because we are dog lovers and see what an epidemic there is in regards to shelter animals. Feel free to PM with any questions! 

Hi @Lisa Landivar, 

I'm a fellow military spouse. I have started getting my real estate license in 2 other states and then were suddenly PCS'd, BUT I finally just became an agent in Missouri! Third times a charm. I actually took the pre-license course in Maryland, did it online, and it was pretty straight forward but then plans changed so I never got my license there. Being PCS'd has it's disadvantages but don't let that discourage you as a milspouse. If you get your license in Maryland, in most states, they will wave the national portion of the test and you'll just have to take the state specific test since the laws are different. If Florida is where you hope to go next, I would look into the rules the Florida Real Estate Commission has in regards to out-of-state agents getting their FL licenses and just plan for it. If there are a ton of hoops to jump through, maybe wait until you get to Florida. Also, consider becoming a USAA recommended agent to help supplement your client base. I am working on it right now.

Unless the rules changed, my husband @Dan Krupa, is right about the amount of time you have to live in a home purchased with a VA loan. Have you considered house hacking and living in the multifamily that you buy so that you could utilize your VA loan? You can use it to by up to a fourplex. You can also buy multiple properties using your VA loan. BP member, Elizabeth Colegrove, did a nice blog on the VA loan you should check out.

Anyways, this post is getting long, but I'd love to help a fellow military spouse in REI so please PM me with any questions!

I don't think I'd ever let go of an Arlington property. I continue to regret not buying there 5 years ago when I lived there. May I ask where in Arlington? 

I'd recommend making a real effort to appeal to us household6's. I would make the effort to know if/when there might be a deployment, and if it was me, I would try to make the extra effort to make sure they were taken care of while their spouse is deployed. For example, I might offer lawn mowing during the summer if their spouse was gone at no extra charge or snow removal in the winter. It's a small way to give back and take care of them and your property during an already difficult time. Also, you might actually be able to get 3 year leases when it's a family because that's usually how long an assignment is and they are less likely to want to move even if there is a deployment. Best of luck!