Cheap Real Estate Investments For College Students Off-Campus
Submitted by wadeinni
The usual trend at most colleges and universities is, tuition increases and students protest. Room and board, and supplies are extremely expensive, but there's one investment for college students that make very good sense. Cheap real estate off-campus near a college town.
Many savvy parents have known for years that cheap off-campus housing where their college student attend is one of the best investment moves they could ever make. Not only does the student get to save on expensive college room and board, but they get to own a serious piece of investment that could pay off nicely by the time they graduate.
Location is everything in real estate, but so is timing. As a result of the 2008-2009 recession, housing properties sharply declined and are at or near their bottom. You can now get deals for $100, 000 less than what the property was inflated to prior to the housing bubble. Snatching up a good property near where your student attend college could make your and their financial portfolio balloon in the coming years.
If you mortgage the property and have a principal balance remaining, simply have your student room and board in the house and split the cost of rent and utilities with a carefully screened roommate. Splitting cost of rent and utilities is a very common practice for college students.
Also having your child living in and owning the property gives them a valuable sense of financial responsibility. The chances of them wrecking the house or throwing property destructive campus parties will be very low.
Research and scout out the area where your student plan to attend or is currently attending college. Get information on where the town will be economically in four or five years when they graduate.
Make sure your real estate agent do a thorough history check on potential property investments. You'll have a huge advantage if the town or city of their college is expected to recover well from the economic downtown of the recession.
Owning an off-campus property is a safe and excellent way to build equity slowly. Also make your move quickly and carefully, cheap real estate investments are very sought after and get bought up very quickly.
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