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Moving to Fort Knox, Kentucky

594 Views 8 Replies 5 Participants Last post by  cyclecamper
It looks like I got a job contracting to the Army at Fort Knox, north-central Kentucky.

What's out there, besides snow? Any locals on-list here? I get the feeling I wouldn't really like Louisville much. What's Elizabethtown like? I may just go rural and learn to play Bluegrass. In the summer I will be able to take a motorcycle ride to my old hometown in Illinois, just Indiana away.

I'm sure going to miss the SoCal weather. I just built a motorcycle on my front driveway. Took me months, yet it only rained a little once or twice for a short while, which a cover took care of. Good riding weather here now.

Trying to decide whether to sell my house in Long Beach or rent it out. I want to rent it out and make someone else pay the exorbitant mortgage off. On the other hand I can't keep a good eye on it from Kentucky.
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... It looks like I got a job contracting to the Army .... Trying to decide whether to sell my house in Long Beach or rent it out. I want to rent it out and make someone else pay the exorbitant mortgage off. On the other hand I can't keep a good eye on it from Kentucky ...
If you're working with the military could you not offer it to them? A good friend of mine rents his house to the US Air Force (albeit in the UK) and they ensure that it's all properly dealt with. Never had any issues in 15 years and they pay the rent in advance.
You'll seldom see snow there. Sell the house, long distance landlording is not something you want to do.
:stupid re the house

There's some good riding in the mountainous bits of KY and it's generally blessed with gorgeous geography. Lots of fancy equestrian stuff.
I suspect the country will be gorgeous in spring, huge trees and intense green, and it'll be warmer than my Illinois birthplace but colder than my friends in Nashville. I won't enjoy any narrow-mindedness in the bible belt but I'll keep my own mind open. I could have ridden to the TL get-together. I can ride to Illinois, it's only a state or two away. I can probably ride to Daytona bike week, often without crashing on ice coming back or requiring a trailer for half the trip. Should be able to ride to the tail of the dragon and get a ticket to mount and frame.

I'm a contractor to a sub-contractor to a main computing services contractor to the Army. There's no such Army help with your house here in the USA.

It's long-term contracting in KY, like a renewable 5-year contract. But a lot can go wrong. I'd REALLY like to keep the house. First, the property values around the base in KY change wildly with the level of staffing at the base. With peace suddenly breaking out and now sequestration cutting everything the prices are really low, but going even lower. I can buy a house in KY outright for what I throw away just on interest in two years on the Long Beach house. But it's a really risky if smaller investment. The best thing about a house is that the interest is deductible if you live there, so I lose that huge income tax deduction if I rent it out. After Jan 10 the rules for a heavily-leveraged mortgage change and that could be a problem now too, so the timing sucks; if I keep it I want a better mortgage but I can't do anything until I start working again. Home prices are just starting to come back, and if I can hang onto it for just 4 more years with minor improvements to the kitchen I can make a killing.

Sell it or rent it, I have to fix some major problems ASAP. Then I don't want to make mortgage payments, so I might just sell it or rent it, whichever deal comes along first. But yeah, that urgency doesn't put me in a great position to choose my renters carefully either. I do have people local y who will keep an eye on it for a very nominal fee.
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The other trick here is to let to a business rentals agency. This tends to be shortish term (say 6 months) to business travelers done via corporate arrangements.
The rents paid are higher plus you get all sorts assurances that your place doesn't end up a crack den. You deal with a company rather than an individual.
Companies do better than putting their people in hotels for months at a time so everyone wins.

Toyed with doing it when I moved out of London. They usually want fully furnished so since we were taking our stuff it wasn't going to work out. Shame really as we'd have made a killing. Property prices in London now are mental. In parts they've been rising 10% per month.
Interesting idea, but haven't seen it done in the states on a wide scale. It'd require a hotel permit, favorable zoning, hotel taxes, etc.--probably not possible in long beach.

There are commercial property mgmt companies who will handle everything with the house and leasing and just send you a check or bill depending on how it goes. They are fairly expensive, but maintaining and leasing a house is a lot of work.
Ok. Rules must be different over there. Its still treated as a rental here. What the big banks and suchlike do is maintain a pool of good rentals for their staff who move around. An agency deals with the paperwork but you end up with guaranteed private tenants, assured by the company they work for.
Doesn't require any special permits as long as you don't have an owners' association and you're not running a transients' hotel and have at least monthly leases. They also do it for vacation homes in nearby Huntington Beach, but there might be permits involved when they rent for only 2 weeks at a time.

I would just like to find a stable family. For instance, a lot of instructors at nearby Cal State Long Beach rent for years while saving down payment to buy. I'd be using a realtor friend rather than Craigs List, but I might get desperate to fill it quicker and have to list it on Craigs List too. But for that ideal intelligent stable renter with liquid assets and good credit I'd have to rent it for less than his/her payments would be on an equivalent house or they'd just buy. I might have to throw a few hundred bucks into the mortgage every month too for a few years.
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