I'm going to be transferring to UVM next year and going there for at least 4 years, probably 6. I've got an apartment lined up with the lease starting August 1st. It's a 2 bedroom apartment, with the rent being split 3 ways between myself, my girlfriend, and a mutual friend. I'll be paying $400 a month, as will my girlfriend, and the other person will be paying $500 a month. (She lives there now, and has been paying $650 a month since last August. What I'm wondering, would it be possible(and even if possible, worth it) for me to buy a multiple bedroom house and rent out rooms to other college students?
If I did this, it seems like I could cover mortgage payments and other bills. Now I'm pretty sure there's no way in hell I could get a loan for the price of a house, so does that shut me out right there? I've never had a credit card, I just applied for one a few days ago to help me build credit, the only things on my credit history are student loans which are deferred until I'm done with school. I'm going to school to be a teacher, and I'm aware that the pay for teaching sucks, and I'd like to start investing early.
I'd love to hear thoughts from people about all aspects of this, what might be better or worse, and maybe alternative routes. Thank you!
