Colorado Springs Property Management
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Becoming a Real Estate Investor
Did you know it's possible for just about anyone, even military personnel, to become real estate investors? Yes, even on a soldier's salary. Civilians, soldiers, airmen, and anyone in the Colorado Springs military community can become investors using a number of savvy strategies to leverage their housing allowance and other factors to (a) become homeowners, and (b), use their military relocation as an opportunity to become investors.
Military personnel: Use your housing allowance
It's possible to use your housing allowance to qualify for a loan and actually make the payments for you. If you live off base, you can likely qualify for Basic Allowance for Housing, or BAH. The rates vary according to your pay grade and where you're stationed. It will also vary based on if you have dependents or not. For instance, an E-06 in Colorado Springs with dependents is going to get more housing allowance than an E-05 in San Antonio with no dependents.
You can actually use your BAH in your loan qualification calculations to get a VA loan or conventional loan. If you can afford to supplement your housing budget with more than the military provides, you can qualify for more of a loan, but in today's real estate market, it is usually possible to buy a respectable home using only your BAH to make your payments.
Your excuse to become an investor
Did you get a job transfer and need to move? Are you in the military and PCSing to another base? Use these events as an excuse to become an investor rather than accept the standard option most people accept without thinking about it, i.e., selling your home.
With experienced help devising an investment strategy, whether you're buying Colorado Springs or Boston real estate, you may be able to keep your existing home instead of selling it, then rent it out for investment income. Many people are afraid of becoming landlords, and for good reason. It can be a challenge when you try to do it yourself. But with the right Colorado Springs property management company on your side, you can turn your hassles over to them and just let the value of your property build up into a respectable retirement nest egg over the years.
A good Colorado Springs property management firm will be worth their weight in gold to your peace of mind, monthly cash flow, and long term investment portfolio value. Why? Because property management firms only make money by providing efficient and reliable customer service to their investor clients. If they don't keep costs down and run a tight ship by providing strong renter screening services, they will lose clients and fail to stay in business.
If you want the best in the Colorado Springs area, talk to the Ashford Real Estate Group: 719-314-6057. For investors in the Silicon Valley area, we suggest talking to property management San Jose firm First Statewide Realty @ 408-253-1000.
Colorado Springs Rentals
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