House hack in College?

[Seth Michael Carp]

I have been told that in college I won't have enough time to house hack but to me it sems like a stronger option than just renting for 4 years. Any thoughts? Also was thinking about buying a condo to rent out instead of house hacking in college. Thoughts?

[Ryan Thomson]

You can do it! Just have to get good at delegating and automation. Use your knowledge and drive to convince your parents to get a home near your college. Co-sign with them and put some money down with them if you can.

Buy it as YOUR primary residence with your parents as the co-signers. This would allow you and your parents to only have to put 3.5-5% down. Then you rent out the rooms to your college friends. This will probably allow you to live for free and your parents to avoid a dorm or expensive home payment while you are in college. Not to mention you can both cash in on appreciation and loan paydown.

If you really wanted to scale, you could do this each year. Rent out the last house to a new group and move with your friends to the next house. This is a great way to scale and you only have to put 5% down if its your primary residence each time.

You obviously need to convince your parents or (someone who would co-sign and help with the downpayment) about how good of an idea this is. But if they are savvy money people and they trust you (which I bet the do), then this seems very doable