Abstract:
Local real estate agents said that while foreclosures are also on the rise in the Chippewa Valley, the impact isn't nearly as harsh, and it's still even a "buyers' market." ...
I regularly receive phone calls from parents of UWEC students who are interested in buying a rental property for their son or daughter to live in while they are at UWEC. With discipline, it can be a great learning experience for the student. The student manages the property, chooses roommates, collects rent, and sometimes shares in the appreciation after they have owned the place for several years.
Without discipline, the house can turn into a free crash pad for deadbeat friends...
I did this exact thing in 1997 on my own. I purchased a 4 bedroom home at 1221 Emery Street in Eau Claire with little money down and then rented it out to students while I earned my degree. The students paid my entire mortgage and a majority of my schooling. I have not paid for any of my mortgage with my own money. I gradutated in 2001 and moved to California. I was able to buy a condo out here because of where I was at financially. I now have the house listed for sale and wish that another student would be able to achieve their dreams as easily as I have.
I think Kirk's story is a real inspiration. It's the ultimate way to stay up on top in this perilous market, especially this year with the economic downturn. Good article with some interesting information.
Spring Break
Michael Paul
posted 4/16/08 @ 4:22 PM CST
Without discipline, the house can turn into a free crash pad for deadbeat friends...