Seven years ago I invested in a townhome as a rental property to use as a college savings plan for my 2 kids. At the time my kids were age 3 and 5. I would save money by managing the property myself with tenants that I select. I have much more control over the investment than I would with a stock or bond (although I have that as well in the form of a 529 college savings plan). I can use my expertise in the real estate market to make a smart purchase for a property in a good location. I can use contractors from my real estate business to upgrade or fix the property. If nothing else I should be able to earn equity by having my tenants pay off the mortgage for me. The icing on the cake would be if the property appreciates a little by the time I sell it when my kids need to go to college. We’ll see but it sounded like a good long-term plan for us.
If you have any questions on how this plan might work for you just call me at 720.203.9624 or look me up online at http://www.BevGrothProperties.com