Buying 4 Apartments In College Student Area - In September?
Looking for some advice here. I have an opportunity to buy a 4-plex in a student area of a college town. It is 98% built and reuires a few grand to be in move in condition.
My question is, has anybody had problems filling a place like this up after school has started, and do you have any creative ideas on how to get it rented in say, October?
When times were extremely tough I found the ones that were getting evicted and offered them weekly rentals. I had a Hotel Motel license at the time which meant I could do 24 hour evictions and 9 times out of 10 I did evict them again. You can post at the school with a date of availablity and see what you get as well, sometimes roomates dont work out.
Hope that helps,
Kyle
Nice. Very helpful. I've heard other people are offering to pay utitlies and/or cable.
Find out what other apts are offering, and out do them all. If they offer cable...you offer satellite...if they offer to pay garbage, you pay water also...etc.
You should be able to find some renters willing to switch mid year imo.