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College and University Discussion
Reply to "Buying a house for college housing"
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[quote=Anonymous]We did this. We made about 100k on it after 4 years but of course did have to pay taxes and insurance. Kid was responsible for internet, electricity and food. Most of that was paid for by rent from a roommate. We bought it by owner (we were the first people who toured it the same day he put the sign out) and we sold it by owner (on the first weekend we listed it!). It was a tiny one car garage home with 3 bedrooms, which are popular in the college town. It was only 3 years old when we bought it, so there wasn't any maintenance needed, but we did still do a lot to it like painting, lawn care, and we replaced linoleum with tile. The biggest expense was furnishing it, but we had a lot of extra furniture we sent up there.[/quote]
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