How to Build Wealth When PCSing
For anyone in the United States, pretty much the best way to build wealth is going to be tied to real estate, especially those who are active duty military or veterans.
We will use the example of an active duty military member who gets orders throughout their career. They start off being stationed at Great Lakes and after a few years have orders to PCS (Permanent Change of Duty Station) to Norfolk. Once they get to Norfolk they decide to buy their first house. Three years later, they get orders to Coronado and PCS again. Now they're in San Diego, a great place to be if you want to own some real estate. A couple years after that, they get orders and they're heading off to Pearl Harbor where they decide to re-enlist and the PCS cycle continues.
In each of the markets they PCS to, they're purchasing a home to live in instead of using their BAH (Basic Allotment for Housing) to live on base or pay a landlord. As they leave those markets, they're renting out those houses and refinancing out of their VA loan so that they can continue to use that VA loan time and time again.
Over the course of your military career, you have the ability to create millions of dollars of real estate for yourself, plus a substantial passive income from being able to rent out those properties. Passive income is income that requires little to no effort to earn and maintain. By renting out properties you own you use the rent received from the tenants to pay for the home's mortgage.
Take advantage of the benefits available to you through the VA and reach out to a Sentry Residential agent to help you get on track to earning passive income. For questions on how to get started in that process, visit us at www.sentryresidential.com.