Kid heading off to college

[Alicia Lacy]

I have a high school senior who plans to attend college about a 1 1/2hours away. The room and board cost are about $15,000 per year for about 8 months (4 months each semester) we will have to pay this amount out of pocket.

I’m a fairly new investor and planned to purchase another property this year but paying for room and board will change that plan.

I’m considering purchasing a small property in the city the college is located and have my son and hopefully roommates move in.

Anyone have a similar experience to share? Advice?