All Forum Posts by: Cole Bossert

If you want reliable demand and less competition, college towns are a smart play — especially in states where enrollment is growing faster than housing supply.

Here are 5 states where student housing shortages = investor opportunity:

1. North Carolina

• College towns like Boone and Chapel Hill are underbuilt

• High out-of-state enrollment + limited development

• Landlord-friendly, with strong long-term growth

2. Georgia

• Schools like UGA drive big rental demand

• Lots of small towns with minimal rental stock

• Strong pre-leasing activity = low vacancy risk

3. Indiana

• Low home prices + steady student turnover

• Towns like Bloomington rely on private landlords

• Easy eviction process and solid cash flow

4. Alabama

• Student-heavy towns with aging housing stock

• High rent premiums near campus

• Low taxes and fast legal process for landlords

5. Colorado

• Schools like CSU and CU Boulder face housing caps

• Students and young pros compete for limited supply

• High rents support house hacking or co-living plays

Where else are college towns still flying under the radar?

All three markets have potential—it just depends on your goals and risk tolerance.

Greenville is a great starting point. Lower prices, strong rental demand from ECU and nearby hospitals, and it’s easier to hit solid cash flow metrics, especially with long-term or mid-term rentals.

Greensboro is a bit more balanced. It’s bigger, has more economic diversity, and can offer steadier appreciation, though the cash flow may not be as strong as Greenville.

Wilmington is appealing for appreciation and STR/MTR potential, but it's pricier and zoning can be tricky near the coast. If you go that route, look further inland or closer to the college to improve your numbers.

BiggerPockets has solid resources—books, podcasts, all of it. But for me, the forums have been the most valuable. Seeing how different people think through problems and approach deals has been eye-opening.

Welcome, Micah. Focus on finding motivated sellers and cash buyers in your area. Use free tools like Driving for Dollars, PropStream trials, or public records to build a small, targeted lead list. Study assignment contracts and learn your local laws. Connect with local wholesalers, not just online.

Nice buy. Focus on getting quality tenants in quickly, keep your rehab budget tight, and don't over-improve. Once both sides are rented and stable for 6+ months, track your NOI closely—it'll help with a smoother refi. Good start.

Sometimes it’s the small purchases that make the biggest impact — a piece of gear that makes field work easier, a tool that helps you run numbers faster, or a simple marketing upgrade that brings in more leads.

What’s one affordable tool, software, or setup that’s actually made your work better or more efficient?

I came to Boone as a student at Appalachian State and, like a lot of people, I never really left. The mountains, the community, the lifestyle—it’s all tough to beat. Now as a local real estate agent and investor, I get to help others plant roots here or invest in a market I know and love.

Boone isn’t just a great place to live—it’s a smart place to invest. With a mix of short-term rental potential, strong student demand, and consistent appreciation, it offers multiple plays depending on your strategy.

Economic & Community Growth

Tourism is Year-Round: From fall foliage and ski season to summer hiking and festivals, Boone brings in tourists all year long. STR demand stays strong, especially near the ski resorts and downtown.

Out-of-Town Buyer Activity: We’re seeing continued interest from buyers out of Charlotte, Raleigh, and Florida. Many are buying second homes or relocating full-time, which is pushing demand up while supply stays tight.

Ongoing Local Investment: The town continues to improve greenways, local parks, and infrastructure to support both growth and quality of life—without losing that small-town charm.

Rental Market & Investment Potential

Student Housing: App State brings in 20,000+ students a year. Off-campus rentals are competitive and can generate strong cash flow if you know where to buy and how to market them.

Short-Term & Mid-Term Rentals: Whether it’s a cabin for weekend travelers or a furnished unit for travel nurses or remote workers, demand is there. Especially in well-located, thoughtfully renovated properties.

Fix-and-Hold Opportunities: It’s a tight market, but investors who can source off-market or undervalued homes and improve them are seeing solid appreciation and long-term equity growth.

Lifestyle-Driven Appeal

Outdoor Recreation: Hiking, mountain biking, skiing, fly fishing—you name it, Boone has it. And people want to live (and vacation) somewhere that supports their lifestyle.

College Town Energy with a Mountain Soul: Boone blends small-town values with a creative, youthful spirit thanks to the university and local arts/music scene.

If you’re looking for a market with strong fundamentals, a desirable lifestyle, and multiple investment angles, Boone should be on your radar.

Happy to answer questions or connect with anyone interested in exploring the High Country.

Just pulled the latest numbers from the High Country Association of Realtors (covering Watagua, Ashe, Avery and Alleghany Counties), and there are some interesting signs for anyone watching mountain markets or looking for undervalued, lifestyle-driven rental plays.

Here’s the March 2025 snapshot:

• Median Sales Price: $505,000 — up 4.1% from last month

• Closed Sales: 87 homes sold — a 6.9% increase

• New Listings: 205 — up a massive 51.9% month-over-month

• Active Inventory: 486 homes — up 14.6%

• Days on Market: Dropped 15.5% to 71 days

What does this mean for investors?

We’re seeing a flood of new inventory hit the market at a time when prices are still climbing. That combo is rare. It’s giving buyers—especially cash buyers—a chance to be aggressive while sellers are still optimistic and before competition really kicks in for summer.

The High Country isn’t just a vacation market anymore. Short-term rentals are still strong here, but we’re also seeing increasing demand for mid-term and seasonal housing, especially around App State, healthcare, and remote work relocations. Plus, many of these homes have views, land, or character you won’t find in most suburban flips.

To me, this looks like the sweet spot: prices rising, DOM dropping, and yet more options on the table. That won’t last long.

I’m curious—what are you all seeing in other “lifestyle markets” across the country? Are you seeing a similar window opening in your area, or is this just a unique little moment here in the NC mountains?

I’d sell as well. Like @Caleb Brown mentioned, $200K in equity could likely be put to better use elsewhere. The margins seem a bit tight, especially if vacancy and maintenance weren't fully factored in. Plus, if you're not really excited about this property and would prefer a townhome or SFH, it's worth exploring deals that align better with your long-term goals.

If they fully meet your qualifications, declining based on a gut feeling about how “needy” they might be could be risky, especially from a fair housing standpoint.

If your only concern is high-maintenance tenants, a well-structured lease with clear expectations on maintenance requests and communication can help set boundaries.