Updated over 4 years ago on .
Tips for acquiring an “abandoned” student rental
Hello BP!
There is a house in my home town, 3bd, 1ba, 943 sq ft. That sits in the middle of the “mile square” right next to campus. All the houses in the Mile square are student rentals. This house looks abandoned (broken windows, no cars, unkept yard). Upon a property search it looks like it’s owned by an investment/construction group from a neighboring town. I can’t believe this thing is unoccupied! Student housing here increased during the throes of the pandemic as second year students were able to live off campus. The house could be rehabbed yes but, there’s also enough room on the lot to possibly even tear down and build bigger. This thing is a buy and hold dream. What would be your first steps for this home and/ or other homes and lots like it? For me I’d have to raise funds to do anything but with it being a student rental, this thing will pay it’s self back in no time.
Sorry for the long question! Thanks for all your advice and help in advance!