New to Investing - Midwest Student Rental Strategy
Hi everyone,
I'm a new investor from Austin, TX, and I'm hoping to get some thoughts on an idea I'm exploring.
I'm thinking about buying my first rental property in a Midwest college town. Something small to start with. The plan is to rent it to a student from fall through spring, and then use it myself during the summer months to try and escape the Texas heat.
Has anyone here tried a similar strategy? I'd love to hear your advice on the pros, cons, and any tips for a beginner.
Thank you
Most Popular Reply
@Sam Sigholz
I’ve seen people do this in college towns like Columbus, but keep in mind that student rentals can be a bit different. Demand is usually steady during the school year, and you can sometimes charge higher rents for student housing.
The downside is more turnover, more wear and tear, and the need to ensure the property is close enough to campus to attract students. Using it during the summer could work, but make sure the numbers make sense on their own as a rental first, that it cash flows during the school year, and that the property is financially makes sense.