Many duplex buyers I work with are first time home buyers who intend to start a family in the near future.
Their goal is to live there until their family is of the size that a single family home is more suitable for their needs. At that time they will buy a house, and keep the duplex and its cash flow as the college fund.
So what if your kids are already in junior high or high school and you’re lookiing down the barrel of college tuition without a duplex in your portfolio?
What about buying a duplex near a university now?
Many parents know in advance their children are leaning toward a specific college, or, that they can only afford to help with tuition at a local university.
And yet, regardless of the cost of tuition, one of the most expensive components of higher education is on or near campus living.
What if you already owned a property with enough bedrooms for your children to have rent-paying roomates, allowing your child to live rent free?
University communities have not been unscathed by the foreclosure crisis. Whether it’s a duplex by the University of Minnesota or a condo just blocks from Arizona State University, there are many distressed property opportunities for forward-thinking parents and investors alike.
During the boom, these university duplexes tended not to cash flow.
Not only do they pay for themselves, but the cost of a Golden Gopher sweatshirt or Sun Devil window sticker or two as well.