I'm In the Military, Should I Rent or Buy A House?

[@ranger2316]

We bought at every stateside duty station. We used our VA benefit on the first one and that gave us the leg up for future purchases. Any wealth we've accumulated has been accrued from buying and selling a home. It was a perfect solution for us and I'm glad we did it.

[@isaiahmartinez2061]

Did you do a 30 year on that first house? I'm PCSing to Colorado springs in a year and want to buy our first house at this base but with the house prices there a 15 year would be really hard to get under BAH

[@1KhaliDP]

How’s life now? I already own one, going to rent it out. I plan on buying another in the future.

[@lucasfavaro2951]

update?

[@douglassmith9445]

Just curious if the numbers actually worked out in the end. I’ve got 250k after 7 years active duty and could never see tying up any of that money into equity. Instead, I felt it was always better suited in the stock market. Were you able to build up a decent liquid networth or just equity from your plan?

[@LtColDaddy71]

That was one nice thing about serving in the Corps. Not as many duty stations stateside. You have East Coast Marines, and West Coast Marines. I purchased a home with a huge down payment and made a profit taking in other young pilots as room mates. I was able to commute anywhere we flew the Hornet on the West Coast.

[@webfreakz]

You flew F18 hornets?

[@LtColDaddy71]

@@webfreakz F/A-18, yes.

[@matthewgardner2144]

That sounds totally HOT, Daddy!

[@jermainew8394]

Dave always have great insight and advice. No sugar coating, just strait like black coffee.

[@autumnjerene]

Sometimes you get a great deal on a house when you PCS in. Then 2008 happens and you get orders overseas and can't sell the place for enough to pay off the mortgage.

[@desert915]

Yes finally this answer!

[@jeffdaugherty8339]

Thank you for this equation!

[@douglassmith9445]

So buying a home is not allowed to make sense for service members who have to move every 3 years. Awesome.

[@kidmxrc]

Nice clip Ramsey 🤝

[@stevenporter863]

First thank you for serving. Don't buy until you are settled. Your location is too fluid and could be moved based on the government's interests, not necessarily yours.

[@stevenporter863]

@MitchCumstein Appreciation is just a side issue, he isn't going to be there a long enough for even transaction costs to make sense so it is a bad move to buy. Buying isn't always the smart move.

[@MCPlatinum-MCP829]

So basically you shouldnt own a home if you serve? Thats just great.

[@fhuber7507]

Typically you need to be assured of staying in one location 2+ years to be worth buying.Less than that and the realtor fees eat you alive.

[@tonypeters3320]

There are no realtor fees for the buyer. You have closing cost.

[@fhuber7507]

@@tonypeters3320 keep thinking that way... The seller figured the realtor fees into the price.

[@rontron5540]

Thanks to all who have served our country I'm a veteran as well ❤️ I'm currently renting a home with a option to buy and looking to expand my options in real estate. Honestly don't know where to start and could benefit from prayer and guidance please 🙏 Thanks so much for this podcast it's a awesome resource ❤️

[@thebestthingthatneverhappe6729]

check out bigger pockets podcast for real estate guidance

[@A.S2400]

Use your GI bill if you plan on staying in that area !

[@truthseekertruthspeaker]

Love u guys🙏🏽🙏🏽🌹🌹🌹🌹👑

[@kidmxrc]

W name

[@Peace-ju9us]

depends upon how many years to retirement, do you want to leave there, will you be employed there...buying a home right now is too over priced

[@ErrorPagenotFound-ig1cy]

You’re part of the “shouldve bought a home five years ago” club? Lol

[@A.S2400]

@@ErrorPagenotFound-ig1cy who isn’t ?!?

[@uriel-heavensguardian8949]

Awesome video

[@cathy7824]

He will have zero problems renting it when he leaves.

[@A.S2400]

Who wants to be a landlord in every state ? You don’t know repairmen- and every person you knew when you lived there has since got orders too! Don’t be a landlord in a city you don’t plan to return to.

[@aftech7268]

Absolutely i have two rental properties at bases i used to be stationed at , one in a suck location with appreciation of 3% since its in the middle of nowhere and the other appreciating at 5 % near multiple cities the 3% appreciating property positive cashflow $500 a month with rent while , the 5% appreciating property cashflow at $300, buy if you the rent covers the mortgage , taxes , insurance, Property Manager Fee , future repairs and it cash flows … if it doesnt that is when u might refrain from buying … but with my experience u always come ahead getting a VA loan at zero % no PMI and the renter is paying for property is win win all the time ..if you reinvest the cashflow wisely and not spend it

[@MooMoo69556]

@@aftech7268$800 😂😂😂 Bro that sounds hella dumb. Why tf am I buying a house if I can’t spend any $

[@mossgeorge2001]

Yes, Air Force Reserve speak Dave Ramsey speak the truth.

[@ernestgreen6821]

Nothing wrong with owning rental properties? You can hire a management company to take care of it!

[@garrenshot]

More money leaking away when you could've just taken care of it yourself

[@musicpro7278]

@@garrenshot exactly. Dude thinks he's just gonna pay the management $100

[@Leftists_are_Losers]

Or, if you marry correctly, your spouse can manage your rental properties while you are deployed... If you marry incorrectly, you can spend the rest of your life unfucking your finances ... I’ve seen it happen ...

[@jerrodlopes186]

Property management is not that expensive. Most of them are nothing but rent collectors. Furthermore, you don't have the headaches of tenant complaints or costly fines if you're not on top of the laws. In some states you can be fined 75k just for showing up to your property unannounced.

[@tonypeters3320]

@@musicpro7278 depending if the amount for rent it could be $100. They typically charge 8-10% of your rent so . . .

[@dodgers4444]

What is the average wage were you live at?

[@karimbennett5651]

Buying and the selling a house within three years just seems like a headache to me.

[@isaiahmartinez2061]

Better than renting for 20 years and having nothing to show for it when you get out

[@markvb5592]

Like when it’s Dave and Rachel on the show or just Dave

[@truegrizzlesfan2292]

Same

[@cathy7824]

Depends on where he's at. Fayetteville nc has blown up.

[@lindenhawthorn4761]

If you're in the military they train you to sleep in a bag and cover yourself with some leaves in the woods. Rough it a little and live in a van and save money.

[@joyaustin6581]

Buy land and a travel trailer. Land is low maintenance

[@A.S2400]

Yes because no one in the military has children.

[@cds6334]

yeah most junior enlisted don't/shouldn't have kids. in that case they could save a bunch of money.@@A.S2400

[@Khemtime]

Sweet. I feel good about my decision to rent

[@A.S2400]

I regret buying in 2021 honestly wish I would have stayed a renter.

[@musicpro7278]

The ramsey personalities get boring they just answer the question with a boring response. Dave aways adds to the story to give examples

[@tmusa2002]

Mixed message from Rachel and Dave. Rachel gave Dave’s textbook answer then Dave comes up with something else… 😒

[@Primitive_Code]

Thank God Rachel was a guest otherwise I wouldn't understand a word.

[@therealwewin]

Neither. You're going to Ukraine! lol jk

[@fran5043]

Dave wears nailpolish?

[@DM-ed9os]

It seems Dave may have whacked his poor finger! Did anyone else notice his fingernail is black and blue?

[@thinkforyourself9334]

He did. It's been that way for nearly two weeks.

[@thebecoming1076]

Dave can’t help but interrupt. Even his own fricking daughter! Like dude just host by yourself it will be much better anyway.

[@andresvalencia1174]

Rachel is hot.

[@alexfonseca2063]

No. But, she’s a classy lady.

[@rickyayy]

Nah, but she's a competent host

[@coltsgood99]

Crazy that Dave pooped her out

[@rezamotin7305]

First

[@johnmirbach2338]

🤓👌👍🖖✌😎