All Forum Posts by: Pete Silan

@Dennis Cosgrave

Thank you for your response. We are actually super lucky that we have a great daughter who is responsible and smart. I pitched the idea to my wife because I don’t want any issues while our daughter is in school. But listening to you and more people in this forum makes us realize that we may just co signed for her if it is possible and like you said make her do the managing. I need to talk to a broker and lender how can we do this. Thanks

@Tanvir Sattar

Thank you for your response. That is good to hear, we are hoping that our younger kids wants to be in the same school as their older sibling. Wishful thinking. But since the school is only a couple of hours from our main residence, we feel that the finding college tenants may be slightly easier from word of the mouth or just in the neighborhood. What is your take on condo vs townhome? Some condo fees are to the roof.

@Filipe Pereira

Thank you for your response. My time line is in the next 6 months. Although my college student will be freshmen next year and has to stay in the campus for the first year. We would like to get everything started as soon as we find out which school she gets accepted. We have a choice of two cities within a couple of hours from our main residency. Everyone talks about housing market crashing next year but we just have to see.

My wife and I are very interested on purchasing our first investment property.  We are thinking of buying a town home or condo for our college student to stay at and renting out the rest of the bedrooms to other students.   To anyone who has or had done this, please share your pro's and cons. I have read many horror stories of college rentals. But I am sure there are plenty of positive stories as well. We are planning on hiring a managing company for this property. 

Thank you all!!!

@Charlie Cameron

Great advice. Thank you very much.

@Bob Okenwa

Thank you.

@Aaron K.

Thank you very much for the input. I have a w2 job and my option is just doing partnership/ investing. You made a valid point.

@David M.

Thank you for your reply. That’s a really good information.

How many people got their real state license when they first start getting into real state investing? I know it will help but is it a must? Thank you all.