All Forum Posts by: Evan O'Brien

I have had one in a student rental since 2006. Had to replace the motor once after one tenant repeatedly flushed things bigger than TP down (I think it was about $350 for motor + handyman's install time). Aside from that, works fine and reliably. You do have to educate tenants that it won't work if the power goes out or the circuit breaker trips. Good luck with it!

Thanks to Sarah for putting together this informative event! I'm excited to keep an eye on Newburgh as a potential future investment. It seems like there is some good momentum happening! Thanks again.

Running a few minutes late, but look forward to meeting you all shortly!

I have a friend who uses a Schlage touchpad entry door lock at their two properties with no issues. I was thinking of making the leap to one for my student rental (I'm always making sure a handful of people have entry door keys and this seems easier). The idea of no one getting locked out, etc is appealing. Which one do you use & how do you like it? Thanks!

I have a had a student rental for 13 years (A SFR rented by the room). My experience has shown that being 1.5 miles away from campus/bars means you filter out the partiers, the "stumble home from the bar" types, you reduce the flow of people randomly dropping by because it's close to class, etc.

Another thing - space. If your rental has a large open space, it *will* be used for parties. A huge living room/basement is not a plus when you are shopping for that first rental, unless of course you reduce that party space by turning it into an other room to rent. Dining rooms are great for this. 

Renting out room by room means a bunch of unfamiliar people living together, and they are less likely to plan get togethers, etc. Renting to a group who are friends equals a more social environment and greater potential for parties/damage. I like to say that my house is full of "busy mice" - quiet seniors/grad students who focus on work/school/sleep & cause few issues. Good luck!

I always think about this when I am staying at a hotel. Those tub units appear indestructible and have no seams, but of course they are probably one piece units installed before doors, etc are in. Good luck!

It took me three months and I have now had it thirteen years. 

I do student rentals in a SFR room by room. Students pay a premium, so if you have partial vacancy in the Summer, you can often absorb it. I find out who is leaving for Summer and then try to rent out the vacancies to Summer session students. Moderate security deposits help to absorb cleanup at move out time (renting to families with messy kids/pets can sometimes be more of a mess than students). Couple of rules to implement: no pets, no significant others staying over more than a weekend's time, no mini fridges or heaters. And get lockboxes for the thermostats. Good luck!

Just my two cents - I house hack a SFR by the room with several college grad students. I have a coin op washer and dryer downstairs and they are great. No one abuses them/has friends over to do laundry like a free w/d would attract. On a good month, they generate close to $200. I am in NY, and having a w/d inside in the winter is always appreciated by busy grads who don't have time to go to the place in town, where it costs double. Good luck!

Hey Collyn, welcome to BP! 

I saw the words "mk1 Rabbits" and my eyes lit up. I agree with @Kyle A. though, forget about the cars and focus on what will eventually pay for the car. I have learned to stop spending on mine and worry more about financing the next investment. I currently do student rentals in New Paltz, NY. Here's my 81 Rabbit pickup: