Trying to Inch Ahead and Not Waste Rent

My sons both go to CU Boulder.  Aside from being forced to live in the dorm the first year, no matter what it’s still expensive to find a place to live.  Not as expensive as the dorm, but still like thirteen or fourteen hundred dollars a month, at least to rent a small house split by three renters.

We’re struggling like everyone else, but since my husband’s a home inspector and remodeler, we thought we could find a very cheap little house, maybe a HUD house, and fix it up almost as a flip over the course of the next five years that the boys would be in college, and we wouldn’t be throwing rent money down the drain.  Maybe we’d make some money in the end!

But qualifying is so hard!  It’s not like we’re trying to buy an Orlando villa or something.  It’s just a dumpy house 20 miles from the college.  But we might as well be trying to buy one of those villas in Orlando.  Since we already have a home and a good deal of debt, they just don’t want to deal.  And I don’t want to even think about the insurance.

The main problem is they won’t count the child support since that will end in a year and a half.  I mean, we have great credit, we’re going to fix up this eyesore, we’ll help ourselves financially but we won’t get rich or anything, and we have a plan for paying the rent.  I’ve been making house payments on time for 23 years; you’d think they’d see it was a win-win for both of us.  I hope the insurance company is easier to deal with.

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