We have a large pool of officers and their families coming into the area due to SOCOM and MacDil AFB being here. Probably a third of my current neighborhood consists of active duty officers and retirees. They make for great renters, despite the sometime quick changes that can result from reassignments and TDY. However, the housing allowance they get is well over what most rents are if they have a family, so renting to them is easy and there is always someone right behind them if they leave.
My former neighbor across the street has been renting their house to military only for the last five years and has only had about 2-3 months out of that time with the house unoccupied. We would have gone that route as well had we chosen to keep the place and rent. That being said, I just didn’t want the hassle of being a landlord. That, and the last mortgage we had on the place, a 15 year note, would have made for the cash flow to be minimal as well. We certainly would have turned a profit after taxes and expenses, but not enough that we thought worthwhile. Had we owned the place outright or had a lower mortgage payment, it might have been more attractive. -D > On Dec 19, 2020, at 11:04 PM, Rick Knoble via Mercedes > <mercedes@okiebenz.com> wrote: > > Dan writes: > >> It’s these stories that continue to reinforce that deciding to sell off the >> former house rather than keep and rent it was a very, very good decision. > > For you, it was probably the best decision. Someone else may have had a > successful go at it. Being a landlord is not for everyone. You have to be > fair but extremely firm. A bit of a d*ck even. That, and the laws in your > locale may not favor landlords or property owners, and the laws can be > changed at a politician's whim. The recent moratorium on evictions is a good > example. I'm sure some states and municipalities have statutes in place that > do not allow winter evictions, so some property owners are going to be out > nearly a years rent. > > If I was in Kaleb's shoes, one of those properties would be gone. That said, > there may be other reasons he can't currently sell. > > Rick > _______________________________________ > http://www.okiebenz.com > > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
