@Charanjit Singh I live in the area again and I am familiar with some of the locations and properties. Send me a PM if you want me to do anything for you here locally. I can track down a few property managers pretty quick and know some 40+ units for sale if you are looking that big (use reddfin).
Areas are tough because enrollment is down and they have built several large new 200+ unit complexes in the last few years.
@Erik Perks I am also interested in the Carbondale market and looking at a few deals. I come from Cape Girardeau area and have been invested here for a few years now. What would you say the vacancy in Carbondale area hovers around?
Stephen I can’t quantify that very easily with the information I get to but I would say with decreased in enrollment and increases in number of available units.
Any way you want me to help quantify that to arrive at a %?
Most of the colleges here in Illinois have seen a decrease in enrollment. Everyone has been scared the crazy state was never going to put a budget together and eventually the schools were going to have to shut down because they had no money coming in.
So this may very well be a good time to buy as some landlords in college towns may have seen a decrease in vacancy and might be spooked. It would seem logical that enrollment will pick back up again now that we're operating under a budget. And that may be enough of a blip to pick up some really nice deals.
Welcome to Southern Illinois. We meet 10 miles away on the second Tuesday of the month.
@Stephen Scott I may not have been able to help with a true vacancy rate but if there is anything I can being local to Carbondale let me know.
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