00:00:00 Speaker 1
Uh, we could talk about affordability. We could talk about access. We could talk about uh just the inventory, right? Uh here in the Vegas Valley. But when we really, really break things down, there is a transitional issue that limits a lot of veterans'opportunities. You know,
00:00:17 Speaker 2
A lot of people hear VA loan, and they assume the path to homeownership is already taken care of.
00:00:34 Speaker 2
Hello and welcome to a special edition of the Prepare to Compete podcast. I have a special guest joining with me here today by Kenneth Davis, CEO of Veterans for Veterans, a Navy veteran, a homeowner, An advocate who works closely with veterans and service members in understanding and navigating VA benefits to include housing - related benefits. We're here today to have a policy conversation about housing in Nevada, now particularly the Las Vegas Valley, And what could be done to improve opportunities for those who have served and committed themselves to service. Welcome, Kenneth Davis. How you feel today, my brother?
00:01:27 Speaker 1
Oh, doing well. Doing well. Just blasting high in favor and excited to have this conversation.
00:01:32 Speaker 2
Absolutely excited to have the conversation, but before we get into the conversation now, when I refer to the military community today, I am talking broadly about veterans, service members, And eligible surviving spouses who may have access to VA housing - related benefits and still face real barriers, surrounding home stability and home ownership. So today's discussion focuses on Nevada again, especially the Las Vegas Valley, while recognizing that many of these challenges show up nationwide. So now Kenneth, now as an expert on many things regarding the military community, we want to talk about housing today in Las Vegas. Like we said there, but when you look at the housing in Nevada today.
00:02:31 Speaker 2
Especially Las Vegas, What are some of the biggest challenges, veterans and military families face when it comes to home ownership and housing stability?
00:02:45 Speaker 1
Wow, that's a great question. That's a great question. I think here in the Vegas Valley, particularly, I think obviously the market changes everywhere, right? But at a high level, Las Vegas Valley, I think it really presents kind of the classic issues, right? The, Affordability and access problem. Without being affordable, It's going to be kind of very nuanced for veterans to be able to access it and be able to get in. So that with that being said, Kind of the home price when it with the accelerating so much and it's outpacing the income growth, It's really causing a particular issue of affordability that transitional veterans or active duty members who are transitioning.
00:03:26 Speaker 1
Uh, Into the veteran space and also civilian life and civilian careers just can't get access uh to affordability to be able to afford a home even with the VA loan. So,
00:03:37 Speaker 2
No, absolutely stability is a problem. And you know, A lot of people hear VA loan, and they assume the path to homeownership is already taken care of. So now Kenneth in your experience uh where does that assumption fall short in? Actually, Want you to even look into the camera when you are talking about this, because this is just something that's so paramount and important for the people to understand.
00:04:05 Speaker 1
Yeah, yeah. So I mean, when we're talking about this uh. The the the the issue here I think what happens is is that, the relatability becomes an issue. You know we talk about uh we could talk about affordability. We could talk about access. We could talk about. Uh, just the inventory, right? Uh, here in the Vegas Valley. But when we really really break things down, there is a transitional issue that limits a lot of veterans' opportunities. Uh though those benefits are out there to be able to garner access to uh homes. I believe that there is still a crisis of one being able to have.
00:04:50 Speaker 1
Valuable employment as a veteran, uh, because of so many different biases and also uh misconceptions, Uh to be able to afford a home. And then also understanding that just because the benefit of the VA home loan is there. There are other expenses that are associated with that to actually prevent you from buying. And I think that's a big thing too right? Um I don't I don't think we speak enough about that. About VA home, uh, VA loan biases in the real estate market as well, right? Um, understanding that condos can't can't be uh an option for a VA home loan. Well, Real estate agents believe that, and then they they actually steer veterans away from affordable homes that they actually probably can really afford to be able to get in. But uh unfortunately I think that's a real big issue there.
00:05:44 Speaker 2
No absolutely right and kind of focusing back, Into the conversation, Want to really understand how does military life and the frequent moves really shape the many ways service members think about putting down roots and buying a home.
00:06:03 Speaker 1
Yeah, I mean being transitional. Transitional, I think that's a kind of a way of life on a regular basis for many military members. But being a transient, being in the transient state for many veterans. Uh, typically who don't have extended families, right? At that point, they are become very transient and they move from state to state. Uh, Not actually planning roots. And then if they never ever get the access that they need uh due to the the stringent rules and regulations in order to be able to buy a home. So uh that's a big ordeal as well for the military community. I think uh it really really uh needs to be solved at large.
00:06:45 Speaker 2
No, absolutely definitely needs to solve those issues. So now, when you are talking about someone who leaves service, What gaps tend to show up between having to earn benefits and actually being in a position to really maximize those benefits?
00:07:06 Speaker 1
I think this one is a little personal for me. Right post- service is really really difficult. Post-service, there's so many different things that unfortunately many people don't really understand. There's information gaps for veterans and benefits that they do have access to. That's number one, right? But then there's also execution gaps that I don't think people talk about and are aware of. And what I mean by execution gaps is just unfortunately, there is no one guiding them step by step.
00:07:44 Speaker 1
Um, this is what a premier real estate agent is supposed to be. Um, not only that execution gap, but they also be able to provide that support. So now you miss out on support as well, And that's a big thing for a lot of active duty military members that are transitioning back to service. Yes, the Department of Veterans Affairs are very visible and present. However, are they present enough to be able to serve those who are transitioning? Out of active duty military, And not just providing a few documents papers to be able to hopefully get access to that support. And that is a very, very difficult thing, you know. So when we talk about that, I think it's just unfortunate because it also transitions to other the other issues that we do speak about, right. The economic gaps, right? The financial gaps.
00:08:36 Speaker 1
That financial component :, if you are not aware of the access to jobs that you can get, that transitions from the military job over into viable skills into the current workforce, then how are you able to be able to survive in the civilian sector? So that's when I think it really becomes a major, major issue because there are so many. Gaping holes in the support system for active duty transitioning into the civilian sector.
00:09:13 Speaker 2
No, absolutely, And a follow up to that is that, you know, there are so many programs right when you are transitioning out of service. You have the TAPs program, so maybe you could educate them a bit on that. And it's surroundingeducating on so many different topics at a point that's so, Precious to the service member and their families, where they're navigating so many great things. And not to say TAPs is not a wonderful resource, but the veteran has to be mentally present to really hear and understand everything. And, it's like well you are focused on so many different things during that moment, right? You are finishing up your career in service. You may be relocating back to somewhere else. You are.
00:10:02 Speaker 2
Looking to find employment and really understand what that next chapter in life is going to be, So you could go to TAP's class and may not necessarily be as locked in on really receiving that information. And, what it seems like is there's a gap between attending the TAP's class. And when veterans are ready to utilize that information. When does that become available to them again? At another stage in their life cycle,
00:10:34 Speaker 1
Never typically never, they're not able to get the support that the transitional programs that are there for active duty military, getting out of service is supposed to provide. Typically, because it's supposed to be a support system through transition. Okay, That is going to probably be able to provide you more information in regards to workforce, the labor force education. Of your VA benefits in so many different aspects of the transition, however, the execution has been fragmented on a regular basis across all branches. So it's not something that it is readily accessible for many. Many that are currently fighting the current war that we're dealing with now, many of those people are going to be transitioning out.
00:11:27 Speaker 1
Now, I ask you the question: Do you think it is going to be accessible? Tax class be accessible to those boots on ground during wartime service at a moment that is so critical? I don't believe so. So, the execution could be fragmented because there isn't enough personnel. That isn't the correct leadership in place. It isn't the correct policies in place to be able to assist the veteran. Uh, to transition out to be able to have a better and more frequented life.
00:12:01 Speaker 2
Wow, wow, that's uh powerful stuff there, right? So, you know, as we know, there's a lot of different uh federal programs to be able to fill the gaps, Nonprofits and private organizations. And hopefully, we are able to continue to develop to extend those different gaps, right? And not just in the housing education benefits but benefits. In all aspects to the military community, right? Because it's so much so needed and so much so valued there.
00:12:32 Speaker 1
I agree. I agree. But now when we talk about the those beautiful programs, Because I must admit, there are so many supportive nonprofits and government organizations that can assist, but what outreach is provided to those? And I think, uh, when we talk about outreach, we're talking about a very special group of people. We're talking about the veteran community. When we're talking about the veteran community, I want you to understand that this community is not um built upon, uh uh receiving their typically, giving giving their life, giving their life and putting their life on the line, to be able to to be able to protect and serve those who are able to develop those programs.
00:13:21 Speaker 1
So now, If the outreach is provided to be able to make sure that that real outreach to go support, the veteran is executed, then those benefits whether if it's real estate, whether if it's VA disability benefits, whether if it's education it doesn't matter. The veteran is typically not going to be able to receive those because once they're told no, once a lot of times, they never come back. Wow.
00:13:49 Speaker 2
Yeah, definitely some things and challenges we want to work on there. And essentially, it delays homeownership in a lot of ways, right? Because, you have service members who had options to purchase while they were still within duty, and not having the correct information could delay that. So now how does delayed homeownership affect veterans who, May not buy until later in life, years after moving around, restarting or even rebuilding their civilian careers.
00:14:30 Speaker 1
Well, Being such a premier number one real estate specialist is here in the Las Vegas Valley. I mean you must understand right? But let's paint the picture for the people. I think delayed home ownership is a compounding issue of miss equity. Uh, uh, missed opportunity of stability. Missed opportunity to enhance your household education, right? Because stability there comes so many different benefits that comes with security and stability, right? Also, there is you know opportunity for wealth building. Okay let's let's really put that out there right um that that dollar.
00:15:16 Speaker 1
That is once stretched, Is now being able to secure your shelter and provide you and put you in a fixed, locked rate that you can be able to if you choose that product, that loan product. If, you choose that loan product to be able to be able to have a fixed expenditure for the rest of your life, and you know how those expenditures can increase or decrease, but you can leverage that now. Right, you can understand that, and you can also leverage your equity. Right, um, you can also uh be able to be a pillar in a community. Typically more homeowners are more pillars and leaders within the community. Uh with uh local local elections for politicians, Uh school school service right being able to be of service to the schools for the children. Uh but not only that they typically homeowners.
00:16:12 Speaker 1
Typically, take care of their neighborhoods just a little bit more. And that's not saying that renters do not, But it is a different special onus when you put that when you put homeownership one place. But there's also consequences on the other end too. So, um, but yeah, That, that that's pretty much a really huge issue with the delayed uh homeownership and those issues there. That's a real big impact.
00:16:38 Speaker 2
No, absolutely as a real estate professional myself, One of the things I always think about there is, you know, a lot of people say buy a multifamily property, right? And, you know, that's up to a four unit you could purchase with the VA loan. And that's a strategy people have been talking about. But we know you don't want to live in that forever, right? So that can be again a strategy it works for a number of years. But here is a new strategy that I like that I feel like they could work in any time. Is you buy the biggest house you could afford.
00:17:09 Speaker 2
As soon as you could afford it, in an emerging market or developing area. And why I say that is that when you are an active duty service member, A lot of times, the military base may not be the best area in that city, right? And you know I know you were in San Diego, so I guess you may speak to that. But when we're talking to people here that may be stationed at Nellis, well we're talking about North Las Vegas. That meets the requirement of a Developing an emerging market where you can get more home for less dollars. So, let's say if you purchase a three, four, five bedroom as soon as you can. You don't have a family yet. You put some roommates in that particular home. You kick them out as you get married and start a family. Now you have your forever home.
00:18:07 Speaker 2
Already built in, And now you bought that in twenty twenty six when you may not need it until twenty thirty six And as we know, The price of tomorrow is definitely going to be a lot more than the price of today. So you are able to really win in that type of scenario.
00:18:26 Speaker 1
I love it. I love it. That's a fabulous strategy, and why I say that because sometimes you know when you buy the, Uh, biggest home that you can afford, Or not even the biggest home, the home that fits you at the time that you can afford uh with you want to be able to You would have to grow into it. Not not necessarily necessarily other way around right? Uh That, we outgrown the home. No, We want to grow into this home and I and I can't I can't emphasize that enough. Being a young sailor uh transitioning out of service.
00:19:01 Speaker 1
You go through certain aspects of life, where you take consideration that you think you are going to be in this state of the world or in this state that you are in, in your twenties or thirties, Or however old, yet you are for the longest without children, or even with children. But always anticipate your five year needs. Anticipation of those five year needs that's going to put you in a home that I think you deserve. But now, When we talk about that, don't be afraid to stretch yourself a bit. Veterans are used to being stretched, used to challenges. So now go meet the challenge of making sure not only that financially, But being able to put yourself in a position to really grow into the space.
00:19:57 Speaker 1
And that's a that can be so many different layers of things. Yeah,
00:20:00 Speaker 2
Absolutely. And that's where we're not just talking about the bedroom count, we're talking about even the areas, right? It's like yeah, you want to live in this A class or B class community, But what if you pick an emerging market where it's still a decent uh community and everything, but it's a C class community, and it has potential when you talk about over time. You are not paying for what it is at that time because, When you think about that, And when you're thinking long term of staying in a home as a forever home, You can't just pick the market that you've known that was good for the last twenty years because it may not be a good area within the next twenty years from now. So, those are the reasons why you need to always kind of consider where the market is going, not where it's been or not where it's at currently.
00:20:53 Speaker 1
Yes sir. Yes sir.
00:20:54 Speaker 2
Now, absolutely so. Now, if Nevada wanted to better support veterans and service members in becoming homeowners, what problems should a state or local response focus on first?
00:21:10 Speaker 1
Well, I want to preface this conversation by saying Nevada, I love you. Nevada, you always have been good to me. But now if you are serious about, Solving this issue and focusing on the community at large and really helping the full Las Vegas community because bringing a veteran to speed to make sure that they're housed properly actually helps the entire economy. But now, if they're really serious about this issue, veteran-specific housing programs.
00:21:52 Speaker 1
Should be a focal point. The VA home loan isn't enough for access here. It isn't enough for access in many states. Nevada has become one. Also, when we talk about that, I also want to focus on not only the financial impact, but the other side of it : access to jobs for veterans. Veteran specific jobs, okay. And we're not wanting to obviously discriminate or hold any type of biases, no. But again, Giving a fair shot at an opportunity to be able to work at the MGM Grand without being on call or being part time. And you have to actually sacrifice these time with your family because you're on call, and you need to go in and you don't have a set schedule, right?
00:22:48 Speaker 1
We understand that seniority runs this uh this this actual uh city of Las Vegas. When we're talking about the strip and hospitality industry, But there's other ways to be able to create systems for entry points of a steady job. Okay, Also, incentivizing seller seller certification programs right uh, to be able to make sure that uh, if you're a veteran and you are have a VA offer, what type of incentives can the state help with? You know, in order to make that purchase or transaction happen. But veterans, I'll tell you one thing as well. I've seen many, I've seen many, Many homes get closed when they were in a when they were in a bidding war, right by just simply explaining your and telling your story as a veteran. And now you are in the dream home that you desire, because you actually just told your story, right also offering affordable.
00:23:47 Speaker 1
Housing for veterans, right? And again, and when we talk about veterans, we can also extend that to first time home buyers. But when we talk about first time home buyers, Many many, many active duty members or veterans that would transition out are first time home buyers because they're first generation military service members. A lot of times, They're first time home buyers as well for many reasons that we won't discuss here. But also integrating home buyer education is such a huge, huge thing. And when we talk about policy to extend home buyer education, I can't, can't, can't thank you enough, Mister Jones for really leading that charge to make sure not only as an active duty, but the veteran community has been educated.
00:24:44 Speaker 1
In to the benefits and access that they deserve for home ownership to take care and secure their family.
00:24:50 Speaker 2
Absolutely, no thank you for that. Now, One of the reasons why I joined the doctoral public policy program was to really advocate for middle class Americans. I see the middle class continuing to decrease. You know, it's been doing so uh throughout our whole lifetime as millennials, and uh that's something that I am very passionate about changing. And you know, myself as a civilian patriot, Just kind of looking and seeing okay. Well, when we're talking about working class Americans, we're talking about middle class Americans. It's such a large pot. And, that's why it's so hard to service the needs of the middle class community because.
00:25:38 Speaker 2
That's the needs of seventy eighty percent of society. It's the needs of everyone, right? So, how could I reach that mission and achieve that by defining a starting point? Right, and the military community is my starting point. Fantastic, right? So that's why we're here. That's why we're doing what we're doing. And housing stability is the starting point.
00:26:09 Speaker 2
Regarding the military community, but that's not where we're stopping. We're starting with the military community, we're starting with housing, And we're going to continue to adjudicate every single issue until we solve the problems of working class Americans.
00:26:28 Speaker 1
Hundred percent again being able to serve that's number one.
00:26:32 Speaker 2
Absolutely so now, but when we're talking beyond, Owning a property, What does stable housing or home ownership actually change in the life of a veteran or military family?
00:26:49 Speaker 1
So, stable housing is a foundation. Food and shelter are the foundational pillars of the caveman. Okay, this isn't this isn't a only veteran. Conversation. This is a larger conversation at scale. Family stability starts at home. Without family stability, you don't have a secure child development and education in a household. You increase with insecure housing; it creates increased mental health and stress levels. Now you have caused unstable people.
00:27:32 Speaker 1
Unstable people really cause chaos in many, many ways. So, being if you want to bring down the violence, if you want to bring down certain chaotic aspects of the human population, secure shelter and also food. Everything else we can work on right? But also again financial stability. Right, financial stability, and why I say that again because now your fixed expenditures are predictable. Right, it's hard. It's hard to live when you don't know what your rent is going to be in the next year. Okay, or if you are going to be able to renew your lease. Right, And also I think it brings a real, huge, larger conversation of community and identity.
00:28:28 Speaker 1
And that's a big thing as well. So, stable housing would be able to really, really make a large, large impact in those areas.
00:28:36 Speaker 2
Absolutely, it would. So now, if you could advise Nevada lawmakers and community leaders directly, What is one practical step that they could take right now to improve housing opportunities for the military community?
00:28:55 Speaker 1
Easy build awareness. Restructure pipeline. There is no structure, in a structured environment you have created chaos, through transition, by building this pipeline, You are going to be able to have a financial assessment on your on your transition. You are not only going to do that. You're also going to have a VA home loan advisor education tied to that, right? And this is beyond tax class. Um being able to understand credit.
00:29:27 Speaker 1
Okay, Assigning an actual case manager to a file while you are transitioning to be able to provide that support because, again, like I said before, it's going to raise the economic viability here in the state of Nevada. Okay. Also integrating lenders and real estate agents who are knowledgeable about The active duty and military community and their benefits at large. I can't tell you enough, on those who you think are supporting you and supposed to be your fiduciary, uh fiduciary, uh. Respond. Uh, Your fiduciary person who's actually putting you in position to be able to get garner your benefits. They're actually unaware of what you deserve.
00:30:22 Speaker 1
And what you have earned, so just creating that space there will be able to support the community hugely.
00:30:30 Speaker 2
Absolutely, and you know, closing out on that, I really want to make sure that the listeners understand, you know what you are actively working on with Veterans for Veterans. And you know other initiatives that you have ongoing.
00:30:50 Speaker 2
For the military and veteran community, and you know, even throughout the years, how many have you served? Because, you know what I want to close out on is that really being able because I know we said it in the beginning, but really giving the practical background on why you are a practitioner who is qualified to give the advice that you just gave there.
00:31:16 Speaker 1
Well, I may state I am qualified, right? But I am a forever learning expert. I want to learn more about the veteran community. I want to also preface that I also want to be able to shape and learn more about policymakers who are making the policies for the veteran community. So myself again, I am a United States Navy veteran who has did three deployments, okay? Um, Who actually was in in the Middle East and actually wasn't were in wars that transpired. I have the background of helping thousands of veterans not only through a privatized organization, but also under the the structure of the Department of Veterans Affairs.
00:32:10 Speaker 1
Okay, I worked in Washington D C. And traveled all over the nation to be able to serve veterans and their their families as well. Um, I actually have a background in regards to VA disability benefits, Uh with it becoming a VA raider um that were again uh working in Washington D C at um at the appeals management centers for many, many years. Also uh, being able to uh garner, you know, my education, right as a doctoral candidate for. A public policy that is actually shaping policy for the dependent indemnity compensation program. All right, we're actually trying to garner access to veterans'spouses to more benefits as well. So we have a kind of a layered background, but I will tell you right now, we have helped many, many, many veterans and also the lives that are attached to them as well.
00:33:02 Speaker 2
Absolutely Kenneth amazing thank you for sharing. Uh, just uh some of that wonderful experience and information here with us today. Uh, for the benefit of Nevada and otherwise, right? Uh, You know, a lot of our states are able to adopt policy that we create in one state and adopt it to another. Hopefully, we're able to get that attention of those Nevada lawmakers to be able to create some different housing.
00:33:36 Speaker 2
Opportunities for veterans, I would love to personally see a down payment assistance program for uh the veteran community. Uh here in Nevada. I know we have the Home is Possible program, which is a wonderful wonderful program. Uh with the Home is Possible Heroes initiatives would helped uh in times of uh interest rate reduction. However, Homeownership has got so out of control, they're no longer able to offer that program anymore. So, we need to look at what some of our other states are doing in California, in Ohio, in Texas, In Florida and others, and be able to make sure that the heroes of Nevada have a place to call home. Thank you for your time Kenneth. This is Prepare To Compete. We're out peace.
00:34:33 Speaker 2
It was a blessing.
