Buy a few houses/condos near your local University campus and rent it out. Rinse and repeat. :) Spend a few grand to renovate, put lock on each door etc. and j

Buy a few houses/condos near your local University campus and rent it out. Rinse and repeat. :) Spend a few grand to renovate, put lock on each door etc. and just sit back and watch the money come in. (not much sitting back really, you need to make visits, collect checks etc) but still.. On average students pay $500-700/month for school housing and most of those are in homes with multiple house-mates to lower the rate. There's school all year round, no shortage of students. You don't even need to buy the house outright inc ash. Put a modest amount as down payment to lower the interest, and pay for it with all the rental income. Trust me this works. I was one of those students and the landlord was a 26 year old cop who had enough common and financial sense to do this with very little money down. He earns $3500-4500 a month in rentals, depending how many people you can legally (or illegally) fit in the house. Congrats! Don't forget to look after the most important people in your life, and set aside a percentage for good-will and charities.