I'm just curious if there is a market for student housing investing in Fort Wayne. Obviously there are things to consider. FW is generally a small market for this and only has tiny pockets of schools. But some schools such as Indiana Tech and St Francis are surrounded by inexpensive properties that could be used for student housing within walking distance of the school. They only allow students who are 21 by the start of the semester to live off campus, but is there enough demand to still make it work? I'm just curious if anyone else has done it in Fort Wayne. I can't find any posts in Bigger Pockets for this area regarding this.
@Brad McDaniel pm me and we can chat sometime.
Might be a good little pocket there depending on how many of those students that can actually DO live off campus. I would look into where the students that move off are living, conventional apartments/houses etc and figure out why there, then see if what you could buy could provide a better option for the student.
If they have to be 21 at the start of the semester you're probably looking at only being in school for another year max. One of the great benefits to student housing is that you can often times grab them for 3 or 4 years in a row because they have to finish school.
@Brad McDaniel I have had up to 6 single families/duplexes (usually 20 - 25 bedrooms) near Indiana Tech. Most rooms are filled with athletes that are under the age of 21, so I don't think age is an issue. I know the demand is there because I have never had to advertise, normally there is a waiting list just from word of mouth from the students. I have a pretty good idea of what the students are looking for so let me know if you have any other questions.
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