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Updated over 11 years ago, 04/29/2013

User Stats

66
Posts
5
Votes
Kerry M.
  • Rental Property Investor
  • Washington, D.C.
5
Votes |
66
Posts

Which is better?

Kerry M.
  • Rental Property Investor
  • Washington, D.C.
Posted

Trailer in a college town for sale for $10,000. Lot rent is $250-315, depending on water/sewage/trash/taxes. Condition well cared for, not moved; old but no repairs needed. 2 bedroom, 14 by 70. Renting one room in a shared apartment runs $4-5,000 per school year for that area. Room and board at the college is $8,000/school year.

Question: given the need to pay for room for (my) student attending college or purchase of trailer, how do I tell at what point one option is financially better than the other?

Thanks!

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