If I deploy, what's the best thing to do with my house? Sell it, rent it , or let it sit? What are the pro/cons of each?

2019-01-03T23:44:50-05:00

I own my home, and am unmarried. I figure if I sell it before a deployment, I could just save money and by better home when I get back. Just a thought.

Response by SSG Ernest Gonzales made Jan 3 at 2019 11:54 PM

2019-01-03T23:54:17-05:00

I am a real estate agent and my professor is all answer would be it depends on your location. If you rent it, research a reputable property management company to take care of the ho.e while you are out of the area. When and if you come back to the area it can appreciate and you can make more money for a move up. Either way I suggest you reach out to a reputable real estate company for guidance. If you like I can refer someone from my vast national network. Just need to know where you are.

Response by SPC Private RallyPoint Member made Jan 4 at 2019 12:48 AM

2019-01-04T00:48:17-05:00

Since you're in the ARNG your deployments won't be very long, and it all depends on what your state needs (such as disaster call ups) or if the border thing escalates. On the other hand combat deployments (if you get it) are usually 6 months and for ARNG units their rotations is usually every 3-4 years (if they're needed). The ARNG is supposed to have more stability than the other components, but who knows with this current administration. Additionally, you're profile states you are a OCS candidate (?) and if you're accepted you won't be going anywhere until you complete your training.

So unless you planning on transferring to another ARNG unit or to AD, then keeping your house during your short deployments would be the best thing to do. And if you're deployments are short term then renting it out wouldn't be a good idea either. However, if you do let your house sit while you're away then you have to worry about vandals, theft, storm damage, raccoons crapping everywhere, etc, etc.

Response by MAJ Private RallyPoint Member made Jan 4 at 2019 8:08 AM

2019-01-04T08:08:10-05:00

I'd lean towards renting it, but you'd really need to sit down with a professional and go over numbers. You should really think long game. You'll save what, $1,000-$2,000 a month (12k-24k total) not paying mortgage/utilities, but will that be worth it long run if you sell? You'll be getting close to spending that much in all your closing costs, and then you won't be building equity, and then assuming you buy another house, you'll be spending again, money on closing costs. If you're thinking of moving soon anyway, maybe selling is not a bad idea. If you rent, you'll spend a little bit on your management company while letting your tenant build your equity, and hopefully put a few extra bucks in your pocket. Anyway, good luck with whatever decision you make and stay safe out there.

Response by MSG Frank Kapaun made Jan 4 at 2019 11:40 AM

2019-01-04T11:40:48-05:00

Burn it down and collect the insurance money.

Response by WO1 Private RallyPoint Member made Feb 5 at 2019 2:22 AM

2019-02-05T02:22:51-05:00

I bought a 4 unit apartment complex in 2017, and whenever I PCS my wife in the future I will keep that house and use it as another passive income stream. I will roughly be making $1,100 at that time I predict. Not a bad profit margin. So with my background on how I think, I would recommend renting it and putting your stuff in storage. I am not sure if you used a large part of your VA Loan, if at all. If you refinance it into a conventional mortgage, you can get the no money down loan again, or simply come in with 3.5% down into another deal. I saved the $22G I bought the 4 unit complex with during a 7 month deployment, and I sustained a rental property for my then Fiancee at the time. So if you are single you will easily be able to get another property. That is just my two cents. If you have questions or want some videos/books to learn on renting/flipping/buying feel free to message me. I view it that we will not control our paychecks and retirement, that is determined by other people. Having guaranteed income beyond my military salary and eventually retirement is important to me and my family.