Name: Raymond and Daniel Fritz
Year: Senior and sophomore
College: Muhlenberg College
Strategy: Their father bought a $150,000 house near campus, and Raymond and Dan invited three college friends to live there with them. The friends are each paying rent for a room.
Savings: $7,000 a year each. The two boys live rent-free in the family's new house, saving the $7,000 per academic year charge of a single dorm room. With the $500 a month in rent that the other three students are paying, the cash flow on the property is positive.
Advice: "Do the math," says the elder Fritz, whose name is also Raymond. Real estate is risky, he acknowledges. But prices and mortgage rates are currently low. One reason it works for his family: He works and lives nearby, so he can keep an eye on the property.
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