Imagine this scenario: A bunch of college kids, on their own for the first time, sharing a house. And you’re their landlord.
Anyone who remembers the movie “Animal House” may shudder at the very idea of this as a real estate investment option. In the right circumstances, though, it can be a way for college students and their parents to save money and even make money. Buying a house and using rent payments from roommates to cover the mortgage can reduce college housing costs and build equity at the same time.
Some of the advantages to this form of college housing are described in an article by Ingrid Case in the March 1, 2013, issue of Financial Planning magazine. Rick is one of the advisors cited in the article, which you can read here.
