All Forum Posts by: Ross Leavitt

Is the current rent based on renting the whole unit to a group or renting individual bedrooms?

Have you talked to other landlords in the immediate area? Campus submarkets always have their own unique quirks. Local landlords or other experts with the local market can probably give the best assessment of a property like that compared to other properties in the rental market.

How big is the lot? Any idea if zoning would allow development?

That's a great plan, Chad. Congratulations on starting with an idea and carrying it this far!

I recently completed a lot partition in Corvallis and will be breaking ground on two new houses on that lot this week. It was a pretty straightforward process. Let me know if you'd like to talk about the project anytime!

Ross

@Jonathan H. , that's great to hear you're getting into the student rental business. I manage the leasing and construction of my family's campus rentals here in Oregon and always enjoy meeting others in this business! By the way, are you expecting to have tenants during the summer, since you're not doing 12-month leases?

I have houses that are rented to a group and other houses where I rent individual bedrooms. My lease for the individual bedrooms has a couple extra clauses in it. I also have a cosigner form, and I could share those with you if that would be helpful. Most students have a cosigner. A few have jobs and earn 3x the rent so they don't need a cosigner. Some internationals don't have anyone in the US who will cosign for them, so I just double the deposit.

Good luck!

@Steve Novoselhat sounds like a great plan. I'd be very interested in talking to you more about the rental market around the college you're at. My family is currently doing a lot of student housing construction here on the west coast, but we've also talked about looking at other markets. I'd love to learn about another growing college.

Hi Ted,

It's nice to see some other Oregonians here on the forums! What kinds of projects are you looking to do? I'm building student rentals by OSU in Corvallis right now, and as always, looking for more capital to make more projects happen. By the way, have you been to any of the NWREIA meetings? I've found them to be very helpful.

Ross

Hey @Corey Davis , are you planning on going to the NWREIA Christmas party on Thursday the 5th? That would be a really ideal time to network.

By the way, I'm in the middle of some student housing developments around OSU in Corvallis, and am looking for equity partners to put together some more. If that's something you might be interested in, we can talk. Otherwise, good luck with your networking!

It's great to hear from you, Eric! Have you checked out the NWREIA meetings yet? They have a bunch of monthly meetings around Portland (and some further south in the valley), and I've found them to be very helpful.

Hey Cameron, it's good to meet you. I live in Springfield, but I'm managing my parents' rentals in Corvallis, putting together three infill developments (OSU student rentals) for them and looking for $ to do more. Have you been to any of the Portland REIA meetings? I've found the NWREIA groups to be very helpful for meeting investors who are actually doing something in the local markets. There are so many people around who are willing to share their experiences. I'm going to a Portland REIA meeting this Tuesday.