When looking at real estate, as a military family, you have to look at different things to see if it makes sense for you and your family to invest in that sector. Before I start telling you about my experience though, I have to say that I am not a professional real estate agent, I am a military spouse that went through the process of investing in real estate and I am only sharing about my personal experience.

We chose to live off base, buy a house at each location and when it is time to PCS, we put it for rent. For our family, these are the things we looked at when we purchased and invested in real estate. And I will tell you right now, there are pros and cons to everything, especially in real estate, so make sure that you carefully take everything into consideration before jumping in.

The first thing that made it worth it to us was to set ourselves up for retirement. Investing in real estate for us meant that once the property is paid for, the rent is all income and I will always advocate for passive income.

Then we looked at the benefits of VA loans, being in the military, we were able to use the VA loan which allowed us to put 0% money down when we purchased our house. And unlike conventional mortgage loans, VA loans do not have PMI (Private Mortgage Insurance). However, VA loans do have a funding fee, which is paid at closing, and that can be a con for you if you are able to put money down.

One thing that we also looked at is how manageable the property would be from far away. If you are PCSing and renting out your property, you have to understand that you won’t be there to manage it. Managing your property from a distance can be challenging or even finding someone to manage your property  that is really good at it. We had a bad experience with our property manager so we decided to do it ourselves. But again, that might not be for you.

The obvious reason to us for buying was to make a profit and to be able to leave a legacy for our kids. We wanted them to have something they can profit from as they are going through life. You have to know that owning property is also a tax right off (I am not a tax professional so make sure that you talk to a tax professional for your own situation), so that is another benefit for us.

Now these were great benefits, but there are obviously cons. You might not make a profit right away if what you get for rent only covers your mortgage. Another thing is that, owning a bunch of properties could affect your debt ratio and unfortunately, the bank does not consider rent an income if you’ve owned your property for less than 2 years.

So here you have it! Now make sure that you take every piece of information possible and process it and see if that is a good fit for you and your family. It is an amazing investment for us and I would do it all again if I needed to, but it might not be the right fit for everyone.

If you want to hear about 2 more things that we looked at that are benefits, make sure you check out this video over on my Youtube channel: right here.

Make sure you join my group here. It is filled with resources and support for military spouses and mom just like you! See what it’s about, here’s the link:

https://www.facebook.com/groups/militaryspousesbeyondborders

I will see you on the inside!

Myriam Imhoff is currently the CEO of Myriam Imhoff. She specializes in helping stay at home foreign and military moms navigate the gunk of American products. But also helping women who are seeking a path that will provide the time, freedom, and financial resources necessary for them to enjoy a fulfilled and happy life. For more information on healthier products, chemical free cleaning products or potential to make money visit www.myriam-imhoff.com.