You are about to send you kid off to college and he is going to be renting a room for the next four years at a cost of $500 per month. Why not take that $24,000 and gift it to your child and let him buy a tri-plex or a four-plex?
Instead of paying $500 a month he could be collecting $2,500-$3000 a month. In college, students don't
necessarily rent a house or a unit, they rent a room. If you have 3, two bedroom units available, and you rent each room for $500 a month, your child is making $3,000 a month instead of costing you $500 a month. Usually after you have purchased the property, the value goes up as well as rents. So at the end of your child's four years at college, your $24,000 investment may have become a $50,000 gain.
For more information on how one father did this for a friend of mine during college, please read my other article aimed at college students and how they can invest in their own futures.
Todd Clark - broker
Kastings & Associates
© 2009 Todd Clark - Beaverton Oregon Real Estate: Spend the same on your child's college and invest in your children's future
Todd Clark (Broker/Owner)
The Friendly Home Team
Realty Pro, Oregon LLC
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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