All Forum Posts by: Lorcan Malone

Hi @Evan Wiesner

Is it possible to do a JV with a homeowner / Seller if they still need to pay off a mortgage?

Hi @James NA

How did things end up with the potential JV with the Homeowner?

Has anyone had success doing a Joint Venture with a seller (Homeowner) where the seller wants to share in the profits of the eventual home sale?

What is the best way to structure such a deal?

Hi @Angie B.

Is the accounting software provided in Rentec Direct enough, or do you also use Fresh books or Quickbooks?

@Will McGuire

That sounds appealing to have two colleges in such close proximity. 

Do you know what years students allowed to live off campus in each school? Some schools have restrictions that only upper class men are allowed off campus. Is that the case here?

Do leases typically end at the end of the school year or go 12 months?

In Saratoga where I have an investment it can go either way. For one of our properties we prefer the students leave at the end of the school year so that we can tap into the track rental market.  However this does create a lot more work since in the summer the property is treated almost like a hotel. 

We should talk off line sometime and discuss these different areas in more depth. 

Hi @Will McGuire

I agree that college rentals can be lucrative if you have the patience to deal with them.

Can you tell us more about why you are focused on Oneonta? Is there a need for off campus student housing there? I am interested to hear more.

I have a college rental in the Saratoga Springs area which we rent to Skidmore College students. However, the school is building more on campus housing for upper class students so this may not be the best for future college off campus investment. 

Would love to hear more about Oneonta and if you see an opportunity there... 

Congratulations Aristone!  Sounds like a fantastic house hack.  $200 a month is great, well done.  

Care to share the financial details?  Purchase price, rents you are getting?

4 bedrooms in the basement, sounds like a sizable basement unit.  

Good Luck with your future endeavors!

@Jay H. I would like to try the secret sauce.  Please PM me.

Thank you.

Lorcan