Finance with an equity loan from our Washington hard money lenders
It’s an exciting time when your child leaves home for college. But along with the life–changing transition comes the sticker shock of tuition, room and board.
Housing averages more than $9000 per year in college towns across the country. In the Northwest, high–rent regions like Seattle–metro translate into significant expense for college students over the course of four years.
It makes sense, then, that some parents consider purchasing housing for their college students. Rather than lay out money for a dorm room or pay rent to someone else, the right property can mean money back in your own pocket long–term.
By investing in off–campus housing, you can be selective about location and amenities, the quality and size of the property, and control maintenance and upkeep. Once your child has graduated and moved on, you can continue to reap the rewards of your investment property.
Depending on the school your child is attending and the location and setting of the home you purchase, it may also be a good future second or retirement home for you.
The ABC’s of College Town Housing Investment
Consider the following prior to purchasing.
- Will your child be attending the college long enough to make a purchase worthwhile?
- Is the local real estate market healthy enough to warrant purchasing property?
- Will the cost of purchasing and maintaining a property provide a solid ROI vs renting?
- Who will take care of maintenance and upkeep?
- What are local tax requirements?
- Do you want to be a landlord when your child moves on?
Simple Washington Hard Money Loans
You may need a little boost when it comes to financing your off–campus housing investment. Our team of experienced hard money lenders excels at providing loan assistance to Washington investors. Give Gregory M. Russell a call at 1-888-477-0444 to discuss your real estate investment needs.