25 Savvy Startups Students Can Launch for $200 or Less

Buy foreclosure

Buy a local foreclosure, furnish it and rent out rooms    If your parents are planning to pay your dorm fees for the year or pay for an apartment, ask them to buy a local foreclosure for you instead.  The national average for dormitory fees is $3,000 per semester, which means your parents would pay $6,000 by the end of the year.  Instead, find a foreclosure near your school for $60,000 or less and have your parents pay the down payment.  Then, find three student renters and charge less than it would cost them to live in the dorm (say $2,750 – so you save them $500 for the year).  Collect their payments for the semester upfront (the same way they would have paid their dorm fees upfront), so that’s $8,250.  Use some of the money to furnish and pay the mortgage, utilities, insurance, taxes, and manage the property. (This idea costs more than $200 but not to you personally and for your parents it’s a better deal if they were planning to pay dorm or apartment fees anyway. They’ll set you up with a place to live and a way to generate income so they won’t have to pay the dorm fees for the remaining time you’re in school.)    Note: All ideas listed are for informational purposes only. Please consult licensed attorneys, realtors and others before making final business decisions.

Buy a local foreclosure, furnish it and rent out rooms If your…

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  • Maria Carter-Evans

    Is this, becoming a realtor?