All Forum Posts by: Travis Urquhart

@Braden Hobbs couple things to consider:

1- they could have renewed a year lease with you only to break them after a couple months with the deployment orders, but they chose to let you know well in advance which helps you quite a bit.

2- usually single military will move there stuff into a storage unit while deployed because they still get the housing allowance and can save what they were paying in rent. Maybe offer a reduction in rent for the months he's deployed. Your house gets less wear and tear and the tenant can save some money and not have the inconvenience of moving into storage, and then moving into a place upon returning from deployment.

Hoping to get some advice and feedback for my current situation.

Wife and I are both AD Military and about to buy our second home (upgrading) at our current duty station and on the fence if we should rent or sell our current home.

Current home is paid off so we don't need to sell or rent which is making the decision harder! Projected rent would be 1500-475(taxes/insurance) so about 1,000 net while we self manage. We would probably use this extra income to pay down the new mortgage or help offset expenses for both homes.

Or

Sell the current home (would easily sell for 50k more than we paid after closing fees) and roll all that money into the new homes mortgage.

We have about 10 years until retirement and will be at our current base for atleast 2 more years but plan on coming back to this new home upon retiring.

Obviously I know most here are investors and would prefer to leverage and buy as much as possible but I'm hoping to get some input and insight to any unique challenges we might face given our unique circumstances.

Thanks!

@Julie Marquez

I'm AD and there are many service members who do abuse the SCRA to break leases without regard to the effects on the landlord. Many times service members will break thier lease and put things in storage to save all their BAH while deployed, so that fee isnt hurting them. If you were upfront with them about the fee and explain it and they still want to lease then dont feel bad at all.

@Nicho Pruett

Your obviously asking becuase you want to do right morally with this person. But business is business. Ask yourself this, would you take any other tenant that was in a bind and had drug/alcohol issues and not financially sound? Too much could go wrong. Explore other options on how to buy, and immediately move them out.

@Julie McCoy

I always travel very conservatively, especially with road trips so that I know I'll be on time. Usually results in me getting there early. If that happens I'd ask for an early checkin without feeling guilty. As long as maint/cleaning and everything has already been done, what's it hurt if I show up early? Of course I'm talking a few hours, not a night.

@Lars Thurfjell

I'd ask yourself what type of tenant they were and the terms at which they left under. If they were a good tenant, and left under good terms, then reach out to them. Keeping it without trying to return it is basically stealing.