From the time children are very little, parents are told to start saving for college. It’s true that the cost of higher education continues to rise, and financial aid isn’t as generous as it once was, so it is important to plan ahead. To avoid suffocating amounts of student loans, saving is essential. Unfortunately, even with the best intentions, many families don’t have anything left over after paying monthly bills to start a nest egg for education. This is where an investment property can make a big difference.
A wise investment in residential property will provide you with some extra funds that will grow if put in a college savings account. It’s true that even a little bit every month will add up, so if you jump into real estate while your kids are young, you’ll be able to really watch your investment grow. Even if your children are teenagers, you still have the potential to realize some significant savings before they graduate.
With the right property and healthy management, you will probably see your savings grow from month-to-month profit, but you’ll also gain equity in the property. After many years, you could even sell the property and use that money towards college bills, or possibly take out a home equity loan if needed.
In the Denver & Aurora area, Legacy Properties-PM knows the importance of family. We’re a successful third generation family business that exists because of the wisdom our grandfather saw in investing in real estate. Now we want to help other families build their legacies and realize financial stability by using the things we’ve learned.
Our property management services can help you find a property to invest in, as well as take care of a lot of the responsibilities along the way, so it won’t be a burden on you. We screen tenants, take care of leasing and licensing paperwork, collect rent, deal with maintenance problems and even evict tenants if necessary.
If you’re concerned because you haven’t been able to start saving for your children’s college education, you’re not alone. You may need additional income to set aside for the future. To find out more about doing that through investing in real estate, please call 720 989 1996 or contact us.
