Investing in a college town. Why not?
Hi all!
I'm trying to get into real estate and all of the resources I've been reading/listening to have said some of their best advice was learning the market. I was looking in areas where property was reasonably affordable in southern Maine but then I had a thought.
I am a recent college grad and I know the neighborhoods of my college town about as well as the town I grew up in. The more i think about it, my alma mater is growing steadily over the past 5 years, there is a constant inflow of tenants, and real estate prices appear to be incredibly reasonable.
However, I am typically an optimist and when I get into these modes I have a hard time seeing the bad side. So to any investors in college/university neighborhoods, what have been your largest/most consistent challenges? Is it just high turnover and possible damage? Or is there more I am struggling to see?
Thank you!