All Forum Posts by: Jay Borowsky

Ray-I am presently managing the property myself. I have family among the renters so it is less risky for me  to go on my own. At some point though I will get a PM especially if I buy another house.   If you are looking at the student rental market, then I would suggest you contact Charlie Ackerman.   Good luck!

Thanks for the thoughts everybody. I pulled the trigger on the property. Failed to mention that my son is one of the tenants as a junior so I have two years with him, my nephew and four others. I think the repairs need will be below $10K unless I put in new kitchen cabinets.

Hi,

I've got a potential deal for student housing with a 6BR house in Binghamton, NY for $92k. Each BR will bring in $350-400 once repairs and renovations are completed. The cost of them will be $10-15k. Taxes on the house are approximately are just under $4k. 20% down and finance the rest.

The vacancy rate is almost non existent because the houses fill up quickly on a year to year basis. I know that I should factor in some give here but I honestly don't believe that it is an issue given the demand for offcampus housing by students..

One problem is there has been no price appreciation in this city in years being a suffering rustbelt city. The university up there is planning to expand and it may turn into a college town with appreciation down the road but I can't count on it.

What do you think of this as an investment strictly on a cash flow basis?

Thanks for your advice.