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Most Military homeowners use the VA Loan Program due to it's zero down payment benefit. The downside is that this often leaves a family a Low or No Equity Scenario when they get new orders and want to sell. The home seller is faced with a dilemma: The cost to sell a home is around 10% of the sales price. That means a $200,000 home costs the seller around $20,000 in fees. So if this seller owes more than $180,000 they would have to pay out of pocket to sell their home. Most families can not afford to pay these fees out of pocket so they may sell via short sale but that hurts their credit and can affect secret clearance status (which could cost you your job and forever damage your career path).

 

For those who care about their credit the most common solution to rent the home.

BEWARE: Renting is a business and that means risks.

 

UFC have over 20 years experience in Rental Property Management. Located in Virginia Beach and are currently managing properties throughout Virginia Beach, Chesapeake, Norfolk, Hampton and Newport News.  We currently only manage our homes however we know when it's good to be a landlord and when it's not:

 

• If your rental property will not double the current mortgage it's not good to rent that home.

• If your rental property will not net you $400 per month or more it's not good to rent that home.

• If your rental property is not in an area that you would live in it's not good to rent that home.

• If your rental property needs more than paint and a clean up it's not good to rent that home.