I would like to look at other options or benefits that are available to active duty military.

During my time on active duty in the military, I purchased a condo in Oahu, Hawaii using my VA loan.

The Military gave me my last paycheck on the first of November but will start giving me housing allowance for attending school every semester (they don’t give me allowance in the summer or between semesters).

No open houses or the property address even given until phase 3. 

I’m just ending my education phase and opened an account last week definitely something I wished I did several years ago and I understand many REI are skeptics I guess we prefer hard assets than virtual assets but it’s becoming more and more mainstream..

Purchase price: $64,900 Cash invested: $64,900 1 bed/1 bath, 609 sf built 1985 near military base.

Military Investors - Being a real estate investor and active duty military member at the same time can be incredibly difficult at times.

Here are the numbers based on actual expenses:8 unit building (77022) 100% occupiedPurchase Price: $485,000Seller Finance terms: 7% interest rate amortized over 30 years w/ balloon payment at the end of 5 years with $190,000 down              --$295,000 owner financed at 7%= $1,721/mo or $20,652/yr              --$190,000+$75,000 Rehab= $265,000 in Hard Money/Private Money/JV    Current Rent: $600/mo [$57,600 annually]Market Rent: $700/mo (w/ less than $5,000 in repairs) [$67,200 annually]After Rehab Rent: $800+/mo (w/ $75,000 in rehab costs) [$76,800 annually]Expenses: $26,388 annually (includes 10% property management, insurance, repairs & maintenance, utilities, and taxes)      Reserves: $2,400 annually ($300 per unit)NOI after Reserves at Current Rent ($600): $33,590NOI after Reserves at Market Rent ($700): $39,010NOI after Reserves after Rehab ($800): $49,644Cashflow after debt at Current Rent (not including Hard Money/Private money) = $12,938 annually or $1,078/monthCashflow after debt at Market Rent (not including HM/PM) = $18,358 annually or $1,529/monthCashflow after debt after Rehab- 2 Phases                     Rehab Phase (1st 6 months): (including Hard Money + OF at 6 mos= $15,768+$10,326)= -$1500 to -$2500/month or -$9,000 to                           -$15,000 total for estimated first 6 mos. ( OR worst case scenario-- -$26,094 or -$4,349/mo for a total of 6 months with no rent                          at all)                     After Rehab Phase (last 6 mos. with $800/month rent): $38,400-[$10,326 (6 mo. of OF payments) + $13,194 (6 mos of expenses)                       = $14,880 for 6 mos. or $2,480/mo.                    

My goal is to target potential tenants who are in the military.

Also on a personal note, I own a very successful short term rental cabin in Gatlinburg TN that I self manage from 700 miles away so I’m not phased by long distance real estate.