Property By University/College
Buying property close to University/College a good idea?[ Edited by 30days092204 on Date 10/01/2004 ]
Buying property close to University/College a good idea?[ Edited by 30days092204 on Date 10/01/2004 ]
In my opinion - Yes! Above Market rents, typically... However - pay close attention to whom you are renting to and ensure that they are responsible, as some college kids don't care when they go to school (present company included)...
Good Luck!
[addsig]
I live in Ames, Iowa the home of Iowa State University. Although I don't have rentals in the area yet the housing market is strong for flipping properties.
I find that typically college towns are much more stable.
I'm a believer that most any property can make you money as long as you buy it cheap enough.
GOOD LUCK
Thanks for the replies/advice
I agree that colleges do make good areas. I like to write in the lease (as many aprtment complexes do around here) that have the parents co-sign if they renter does not make a certain amount of $. This works very well if junior decides he wants to have a big party and tear down a wall.. mommy & daddy are liable as well and I can get the money easier .(or it at least helps)......
John,
Rental property near colleges is a wonderful way to go. Apt's at the University of Pennsylvania in Philadelphia that are very well worn and lacking in almost every way command the same rents of much nicer places in center city. I'd go with something near a selective private school. Affluent parents won't flinch at $750 a month to live in a dump when they pay $500-600 a month to park on the Upper East side. The kids aren't picky either, Donald Trump Jr lived in the same conditions as everyone else.