Good idea for college student to live in/flip a house?

I am going to be a sophomore in college next year and I am switching schools. I don't really want to live in an apartment, so I was wondering if it would be a good idea to buy a sort of rundown house with potential (my dad would be my investor), fix it up, and live in it for a few years. I could make a lot of the changes while I live in it.

I was thinking that doing it this way would be a way to add value to the home with upgrades while gaining equity. I could have roommates and their rent money could go towards the upgrades. Is this a good idea, or do flipping a home and living in it go together at all?

Good idea for college student to live in/flip a house?

NOPE unless u / dad has money to lose.

keep renting and study , not be a landlord.

Good idea for college student to live in/flip a house?

It may work, but keep in mind that you won't have much time to work on the house as a college student, especially a college student that is transferring.

Don't forget that you'll be a landlord, too. This means that you'll be spending a good amount of time fixing broken every day things and have even less time to make major changes to add to the value of the house.

It would also be tough to get a house near the unviersity so you could get people to live there. You'll also want to make sure that it's in a good neighborhood and that you set strict rules for your tenants.

Would your father be okay with waiting to make back the money he puts in? Or, more importantly, can he get the loans he needs during this sub-prime mess?

I think that fixing it up and renting out rooms sounds like a fantastic idea if you can make it work!

Good idea for college student to live in/flip a house?

how long are you planning to stay in school?

if you are going straight for a masters or in medical school or something else that is quite lengthy that doesn't sound like to bad of an idea.

but sure to look at the risk. the market (here at least) is a buyer's market. meaning for the people trying to sell houses it isn't looking to good. they aren't getting what they could have a few years ago and homes are taking longer to sell.

all of that could change by the time you are ready to graduate though.

hope this helps.