It is an "investment." After freshmen year, many have to rent. So they buy the house, Isaiah moves in with roommates, they collect money. Oh and a place for them to stay when they come to visit. After a year at that address, Isaiah will be qualify for "in-state" tuition. Once he graduates, rent it out to future students. Where the hell is all of this $$$ coming from? They are so overextended as it is.
So...buying a house to get 2 years of in-state tuition
(Freshman year in dorms, Soph in the "investment" house to get residency, junior/senior with in-state tuition)
which will save ~$23k per year in tuition + room/board. That drops to a difference of $8k per year for graduate school assuming he doesn't get that covered by scholarships or assistantships.
They're buying a house that'll cost at least $200k, judging by a quick scan of
basic (VERY basic) home listings in Boone, to save $50,000-$70,000 in the beginning stages of what appears to be a terrible economic downturn. And they'll rent it out to
students afterwards who are notorious for not causing any problems whatsoever with damage and upkeep costs.
Does that all sound about right?
I mean, great
bleeping plan. Real great.