Denver, CO · Member since 2020 · 3 posts · 0 votes
There's a large public university in my hometown, with a lot of opportunity for good cash flow on student housing "multifamily" units. I'm a first time investor and would love to invest back into the community I grew up in, but I'm wondering if anyone has any tips/tricks for the student housing market? I've done a lot of research on traditional multi-family units but haven't found as much information on student housing specifically.
Ex. have you found it better to manage yourself vs. find a property management company, have you found that students are truly as destructive as they're made out to be, how do you deal with the summer months, etc.
@Hailey Lanier This may be a tough time to invest in Student housing due to many taking a year off. However life will resume back to normal soon and may be a great buying opportunity. I am sure there is insurance avail to cover tenant damages. Might be more management then normal but also more cash flow. Happy to network and learn and grow together as we have not invested in this category. Best of luck in all your endeavors.
Hi @Hailey Lanier, I invest in Student Housing around where I went to school at the University of Toledo. A lot of it depends on the local culture of Student Housing that you have to find out about it around the school you're looking at. Around UT, the preference is having a SFH instead of a duplex because then you can hang out in the yard, no immediate neighbors, etc. But the demand for off-campus student housing has been incredibly high, since students don't want to live in close quarters in dorms/apartments due to Covid, so even a duplex is more preferred than dorms/apartments. UT's numbers fell a little, but regarding the students that currently live in my houses, I have heard zero concerns of going to school with Covid or even letting me come into their house to fix things. As long as it's a large University that's too-big-to-fail, I would say you're fine, it's the smaller colleges that I would be worried about regarding long-term financial health of the school.