I am currently at tech school as prior service for space ops for space force. I have a house back in Shreveport, LA where I was stationed at before. Bought it for 202k and 2.75%, owned for a little over 3 years. The house is valued at 230k now so it would be a decent return on such a short time. I left for tech school June 20 and my graduation is October 18th, which will put me at 4 months separated from my wife and twin newborns. I found out we are going to Hawaii, but before we go there, I was told that I will have to do another 4 month follow on training in Maryland right after tech school which means I'll have to be away from my family another extended period of time(which I don't want). Basically, I'm thinking of selling my house and using the money to help pay for my family to accompany me to Maryland (don't think the space force will cover it) and I've never rented before so scared of bad tenants. I know it seems kinda stupid to sell the house for that reason, but I've already missed so much of my babies that I really can't think about missing 4 more months of their early lives. Any advice?
Looking for advice to whether I should sell my house or rent
byu/Brandeaux7 inMilitaryFinance
Posted by Brandeaux7
1 Comment
First off, I am sorry you are having to be separated from your family. I enjoy that part about the military the least and am suffering with it right now.
With that being said, I would look into a property management company for your house. 2.75% is almost free money, and the opportunity cost you have to gain by keeping that house is very very high. You will offset the cost of the mortgage by renting it out with the goal of being cash flow neutral (hopefully not negative). Talk with as many property managers as you need to get the warm and fuzzies. They will handle all of the concerns for you, and you just become a paycheck when shit breaks.
With that out of the way, you’ll be able to move your family closer. Downsize for now until you are ready to be at your next duty station. Travel and live light while at these school assignments, it is only temporary.