Buy A Home For Your College Student
Recently I've been travelling to the SEC looking at colleges for my son, and several of our friends also have high school students getting ready to enter college. An excellent way to diversify your investments is to buy real estate in a college town. It could be the college town where your child desires to attend. Buying a home is an investment and allowing your child to stay in that home during college lets you invest your money that you would otherwise pay to the college or some other apartment complex, into your own property. You are essentially paying yourself. Several of my friends have asked me for agent referrals in cities where their students will be attending college. For example, one of my friends just purchased a home in San Diego, another one recently purchased in Bozeman, Montana. I definitely will be looking to purchase wherever my son ends up going to college. In some cases, you will be able to claim residency after a year of college, and differ the out of state tuitions. It's a win-win. In addition, your child will be able to have roommates, and collect rent thus offsetting your purchase costs for the home even further. In many cases, you'll be able to cover the entire cost of the property through the rental fees of the roommates. Let me know if you're looking at colleges that are out of this area and I can find a qualified agent to refer you to.