College Duplex Success: Student Builds Equity Near Campus
- By Jim Blackburn
- on
Client Profile
- Name: Julian M.
- Age: 19
- School: Arizona State University
- Major: Finance
- Purchase Price: $310,000
- Property Type: 3-bed duplex near campus
- Loan Type: FHA First-Time Buyer (3.5% down)
- Co-Borrower: Parent (non-occupant co-signer)
- Credit Score: 701
The Challenge
Julian was entering college and faced a common dilemma: pay $1,200/month to rent a room, or find a smarter way to build wealth while in school. He didn’t have the income or credit to qualify solo—and like many students, he didn’t even realize that owning was an option.
He needed a creative strategy that allowed a co-borrower, had a low down payment, and worked for a student living in the property.
The Strategy
We structured an FHA loan with a non-occupant co-borrower (his father), allowing Julian to:
- Purchase the property with just 3.5% down
- Live in one unit and rent out the other to cover the mortgage
- Use parental income for qualification
- Secure a rate-friendly, first-time buyer–friendly structure
- Close before his first semester started
The Outcome
- Julian’s roommate rent covered over 90% of the mortgage
- He graduated with over $60,000 in equity
- Refinanced into a DSCR loan post-graduation and kept the property as a rental
- Plans to repeat the process in a second city after grad school
Quote from Julian:
“I didn’t just avoid debt—I left school with equity and monthly income. This loan gave me a head start on life.”
Ready to Take Your First Step?
Skip the guesswork. Take our quick Discovery Quiz to uncover your top financial priorities, so we can guide you toward the wealth-building strategies that fit your life.
- Takes just 5 minutes
- Tailored results based on your answers
- No credit check required
Need a Pre-Approval Letter—Fast?
Buying a home soon? Complete our short form and we’ll connect you with the best loan options for your target property and financial situation—fast.
- Only 2 minutes to complete
- Quick turnaround on pre-approval
- No credit score impact
Got a Few Questions First?
Related Posts
