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Take Control of College Costs
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Learn how to:
- Use real estate to pay for college expenses
- Compare the 529 Plan vs. the Coverdell ESA
- Apply for Financial Aid
- Deduct College expenses
- Thousands more strategies that work for everyone! Everytime!
Buy a home that will pay for your child's college housing and more
About three months before your child begins college, buy a four-bedroom home, condo
or duplex within a few miles of the college campus. The property should be in good
condition, requiring only cosmetic (not major) surgery. To minimize your upfront
costs, get a mortgage for the maximum amount allowed. Furnish your property in "early
Salvation Army" and rent it to four students. You will want a bed, desk, chair,
chest of drawers, lamps and a small bookcase for each bedroom, and basic furniture
for the rest of the house. Let students supply their own linens and kitchen utensils.
Do not be surprised if you can furnish the entire house inexpensively.
Hire your child as the property manager and add to your tax benefits. Pay the loan
off with the profit from the sale of the property when your child graduates. During
the four-year term, your property should appreciate.
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