Does anyone hear know of anyone who has bought multiple homes through their time in the military?
My father-in-law was recently lamenting the financial choices he made while in the Navy, and he was talking about an idea he had but never did.
First base you're at, buy a house. Then instead of selling it off, rent it out and buy a second one after a PCS. That way, your BAH is paying your current mortgage and renters are paying your old ones. Every time you have to move, get another house. Then when you retire, you'll have rental income, or you can sell them off at that point.
Does anyone have any stories about something like this?

I know of several and they are all doing well with them.

I was introduced to this idea about 10 years ago. It wasn't until 2004 that I was able to purchase my first home, however. I chose not to purchase a home at my current 2 year assignment. I am presently working on buying the next one though - closing in less than a month.

There is a lot involved in being a landlord but it is nice to have that rent money paying off the mortgage. The bad thing is when there aren't any renters to make the payments or when there are renters but they don't pay. I've used up a lot of my personal savings to cover the months that the house was empty.

With rates as low as they've been, it has been less expensive to purchase than to rent (family needs a large house). This has been a deciding factor for me. Not sure when I'll try to sell my first home. Maybe within the next couple years or maybe after I retire.

As with any financial investment, this plan is ultimately a gamble (my opinion). I could lose a lot if things don't go right. To protect myself, the home I am purchasing now is in an area with good rental potential and its price is well below what the banks will lend me. My current financial situation will allow me to cover both mortgages if the need arises. An additional consideration - it is very important to have the correct amount of life insurance. More mortgages mean more life insurance for myself and my spouse.

Can't say what I'll do when transfer time comes again. I plan to increase my base pay before then so I may have enough income to take on another mortgage! We'll just have to wait and see.

That's it for me. It would be great to hear firsthand from someone who has made this process work for them.