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Originally Posted by SleazyDream
29. Discuss the 4-bedroom, 2700 sq ft Victorian house you bought as a student and life in it.
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My undergrad was in Terre Haute, Indiana - known fondly then as the armpit of Indiana
with one of the lowest housing costs in the country. After my freshman year, I
found a 4-bedroom, 2700 sq ft turn-of-the-century Victorian house for sale for
$21K. I was able to convince a bank to appraise it for considerably more than the
asking price as well as giving a loan to cover the cost. For the next three years,
I rented rooms of the house to 26 different people which help me cover my expenses.
I ended up selling the house a week before graduation for a reasonable profit - due
in part to three years of painting and upgrading the house. I recently went
back there and found that it hadn't been maintained - I'm sure it can be
bought for about the same now... 15 years later.