California, MD · Member since 2017 · 17 posts · 14 votes
9y
@Carrie Cavins I believe you may be referring to BP Podcast 140: The Riches Are in the Niches (Like Student Housing) with Bill Syrios.
@David Sanford As you mentioned you will have turnover and repairs, but on the flip side you can achieve higher rents because it is possible to rent out rooms individually and you should have a steady stream of potential tenants with each new semester/year.
California, MD · Member since 2017 · 17 posts · 14 votes
9y
@Carrie Cavins I believe you may be referring to BP Podcast 140: The Riches Are in the Niches (Like Student Housing) with Bill Syrios.
@David Sanford As you mentioned you will have turnover and repairs, but on the flip side you can achieve higher rents because it is possible to rent out rooms individually and you should have a steady stream of potential tenants with each new semester/year.
Real Estate Broker · Wilmington, NC · Member since 2016 · 236 posts · 126 votes
9y
Pros: Rents higher due to the higher demand to live near campus. Parents will co-sign the lease. Lots of great SFR brick rancher neighborhoods,duplexes, and overall investment opportunities.
Cons: College kids don't know how to take care of mechanical components of a house. They can be destructive. High turn over. More expenses usually.
Investor/Agent/Entrepreneur · Dallas, TX · Member since 2016 · 464 posts · 564 votes
9y
I lived in a 20 bedroom house back in college, and after 3 years we racked up a $70k bill for damages, got kicked out before our term was up, and found ourselves in a lawsuit. A lot of it were bs charges, but the house was absolutely disgusting after all the parties. Luckily I left before the major damages piled up in the last year, but I can only imagine the pain that management company went through.
Being a property owner now, I can't imagine having to deal with college kids, or owning & repairing any of the houses in my college town. Out of the dozens of homes I've been to during college, there were only a few that I would consider to be in decent condition and well maintained, but I think that's just pure luck in finding good respectable tenants. Maybe grad students, professors, etc. would be a safer bet.