maleficent

It's a solid investment...

However, what kind of shape would you be in if one of your friends doesn't come up with their rent for that month? Could you cover the mortgage?

What about taxes, house insurance, utilities, upkeep? Can you cover that on your own?

Sharing a house with friends is a nice idea in theory, but to protect yourself and your investment, it's got to me a business arrangement, get a lease (available at most stationary type stores) and have them sign it, and make sure tehy'd be held accountable, including any damages. You go from friend to landlord in the blink of an eye.

What would you do with the house after graduation? Keep it and live in it? Rent it to future college students? Or sell it? What's the resale market? How's the market in the area now? For example: in NJ right now, it's a seller's market, the housing bubble is on the upswing again, so prices are high, it's not going to stay like that, so people buying now, are going to have a tough time getting back what they paid for the house when they try to sell it again in a few years, but that could just be Northern NJ, where people pay for the convenience of NYC.

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