Becoming a landlord during college to get in state tuition?

[Charles Lauria]

Hi I’m charlie and I’ve just recently gotten into real estate investing last month. I currently go to SUNY Albany because it has the cheapest price for college (around 22k per year) and I get in state tuition because I live in New York. I’d like to go to college in Florida because it is so much nicer there and I hate the Cold. If I own or rent a property for a year in Florida, I can get in state tuition which would make my tuition go from 18 thousand to 9 thousand. Would it be a good idea to buy a multi family property and rent out the other properties so I can put down the property as my primary residence and get in state tuition? I’m going for nursing so I want to make sure the work load from managing the property isn’t too extreme. Would it make sense to do this or should I just rent a property to get the in state tuition. I’m 18 so it might be hard to get a loan but I don’t want to say I can’t do this I want to ask how can I do this

[JD Martin]

Originally posted by @Charles Lauria:

Hi I’m charlie and I’ve just recently gotten into real estate investing last month. I currently go to SUNY Albany because it has the cheapest price for college (around 22k per year) and I get in state tuition because I live in New York. I’d like to go to college in Florida because it is so much nicer there and I hate the Cold. If I own or rent a property for a year in Florida, I can get in state tuition which would make my tuition go from 18 thousand to 9 thousand. Would it be a good idea to buy a multi family property and rent out the other properties so I can put down the property as my primary residence and get in state tuition? I’m going for nursing so I want to make sure the work load from managing the property isn’t too extreme. Would it make sense to do this or should I just rent a property to get the in state tuition. I’m 18 so it might be hard to get a loan but I don’t want to say I can’t do this I want to ask how can I do this

It's a fantastic strategy assuming you buy the property at a decent price, and made even better by the fact that you will be in college and will have easy access to lots of potential tenants. You might even want to skip the MFH and just get a decent-sized SFH that you can rent out by the room, which will really juice your returns. Then you get nice rent and a bunch of (hopefully) desirable roommates. If I could go back in time, this is what I would have done when I was in college.