Helping your Children Invest in Real Estate!
Submitted by Sandy Morley
This past week I have been working with a client who is from out of state and would like to buy a property for his son while he attends a four year college in Portland. The family decided that rather than pay rent with the possibility of having to move mid-semester that it would be a wise investment to purchase a property where the son could live and also rent out an additional room or two to fellow classmates.
After home/condo hunting within a couple of miles from the school we found the perfect townhome for the son. With no HOA or lawn to take care of the son will have little upkeep on the property. As a student he will also have a built-in population for renters, but if all else fails - he can always use Craigslist, the online community that helps people around the world find housing and other goods/events.
The benefit of owning the property in an active and growing city such as Portland means that in four years when the son has graduated the townhome will have increased in value if the area trends remain the same. At this time they family can choose to sell the property, continue to rent, or perhaps the son will not want to leave his new home and the great city of Portland.