Investment to pay for son's college

[Seth Benevento]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $202,000
Cash invested: $45,000

3/2 home that has 15 year loan and planned this out to be fully paid when my son goes to college. I am planning on funding most of his college from the cashflow on this home.

What made you interested in investing in this type of deal?

Heard it on a BP podcast. Wish I could remember the episode but they discuss how they purchased an investment property when their child was born and sold the property when their child went to college. I am doing similar method but mortgage will be paid for when son goes to college and will use cashflow to fund. I will then hold the property for cashflow for retirement.

How did you find this deal and how did you negotiate it?

MLS and local agent

What was the outcome?

So far so good...building equity and rents continue to increase. Rent increases have been better than anticipated.

Lessons learned? Challenges?

Wish I would have purchased more.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Worked with a local agent and he was great.