Are you sweating about sending your son or
daughter to college in Southern California? We know,
it's downright expensive...unless of course your protégé is
one of the chosen few who gets a full ride scholarship!
On top of the thousands of dollars you spend for tuition,
there are additional expenses for text books, tutors, meals,
supplies, and of course, room and board.
What if you could offset the cost
of college by purchasing a small condo for your child to
live in while they attend school?
On-campus living is
costly and occasionally counter-productive, especially if
your child ends up in the "party dorm". Consider
purchasing a condo near the college in YOUR name, or the
name of your family trust. Your son or daughter will
get the benefit of choosing a roomie, as opposed to having
one assigned. You'll get the benefit of possible
equity and appreciation on the property. Since room
mates were already a necessary evil, why not put their money
to work for you?
Instead of throwing MORE money to college
and dorm living, your son or daughter can actually help you
earn some back! Purchasing a small home or condo can
be done easily in the 30-90 days before school starts, with
little to no money out of your pocket. By obtaining a
small home or condo near a popular college campus, you are
establishing great potential for a future investment
If you purchase a condo at 300,000 in year 1 of a 4 year
college term, and the property appreciates a modest 3% per
year, you could SIGNIFICANTLY off set the cost of school.
Take a look at the graphs and facts on our
time buyer page, and you will see how a condo at 3%
appreciation will net you roughly 37k in 4 years! In
addition, don't forget about the tax benefits and other
write offs you'll receive - talk to your CPA about it.
Teaching your child how to wisely spend
money in order to make money may be one of the best lessons
they learn during school, and they'd be learning it from you
:) Setting an example of how to diversify investments
and capitalize on opportunities won't hurt either. For
more information, contact us or
schedule your online search today.