OWN YOUR KID'S COLLEGE HOME ONE PARENT'S STORY: $4,000 FOR 3 YEARS OF HOUSING KATHY FETTKE & DONNA BEHRENS Kaaren Hall of Irvine, California, is a single mom with two kids in college. Her business, uDirect IRA Services, helps people selfdirect their IRA’s to invest in alternative assets, like real estate. She’s seen many investors get creative with their investing, so decided she would too. While she has a successful business helping people selfdirect their Kaaren Hall: Hall has 20+ years of experience in mortgage banking, real estate and property management. In the midst of a recession and mortgage market collapse, she founded uDirect IRA Services to help people “selfdirect” their IRAs. Her daughter Lauren is going to UC Berkeley outside of San Francisco, and her son Mitchell is going to Kansas State in Manhattan, Kansas. While she couldn’t find a solution to the high cost of living in the San Francisco area where starter homes cost about a million dollars, she was able to help her son buy a home in Kansas for $144,000. And because Kaaren was a former mortgage broker, she also knew how to get creative with loans. She and Mitchell only had to come $4000 outofpocket. Financial Solution to College Housing Expenses The low home price is only a small part of this financially elegant solution to her son’s housing needs. Their story begins two years ago in 2015. They bought the house with 3.5% down on an FHA owner occupied loan. Mitchell was the primary borrower and Hall was the nonoccupant coborrower. They offered $147,000 on the home, got accepted, and put down $1,000 in earnest money. The additional $3,000 was used for closing costs. The total upfront cost was just $4,000.