All Forum Posts by: Will Gaston

     I am considering buying a 3-4 bed, 2-4 bath single family home rental near the University Of South Florida in cash if I can find a deal where the numbers make sense. I am thinking about make it a student rental then live in one room while renting out the rest. 

It seems like most of the living options on campus you would be with roommates anyways but i'm not sure if this is something there would be demand for. I am attracted to the higher possible ROI and can do majority of the cleaning and maintenance/repairs myself so I don't mind the higher turnover. Only thing I am worried about is the possible higher vacancy rate as i'm not sure if this is something that's common especially at USF. I am a 22 year old man so i'm not sure what type of effect this will have on trying to find renters.

     Does anyone with experience with college rentals or any similar type of rental have any insight on whether there is high demand for this type of housing at USF? Also if you have any valuable knowledge on the topic i’d appreciate any advice.

Hi everyone,

I’m new to real estate investing and excited to get started. I’m currently researching opportunities in the Lafayette / West Lafayette, IN area, particularly around student housing near Purdue University.

I’d love to hear from folks who have experience in this market:

• What are the pros/cons of investing in student rentals here?

• Any key things to watch out for (management, turnover, leasing cycles, etc.)?

• Are there local property managers, contractors, or lenders you’d recommend?

I’m also hoping to connect with other investors, agents, or partners active in the area.

Thanks in advance for any insights — really appreciate!

If I understand you correctly Will, you’re saying maybe hire an employee to manage the portfolio, presumably someone who is licensed in that state.  That way he gets the best of both worlds, cost savings, and totally free to keep on the acquisition side. 
Makes sense to me.   Those PM fees seem really high!!!  I know it’s a totally different market there so maybe that’s the norm over there.  But not here in SC!    

I own 11 student rentals (15 units) near the University of Cincinnati (~$600K gross rent annually). My current PM charges 10% of rents (~$60K), 75% of first month rent for new leases, 50% for renewals, and a 15% markup on maintenance/CapEx. Unit turns run $3K–$4K each, so with her markup my all-in annual PM cost is ~$112K (≈18–19% of gross). She’s been a solid partner for 6+ years and also brings me deals, but the numbers are starting to feel heavy.

If I keep her full-service, I free up my time for acquisitions and BRRRR but eat the $112K/year. If I go Hybrid (self-manage ops/CapEx, she just does leasing/renewals at $750 each), my PM cost drops to ~$25K. That saves ~$90K (after-tax, about $70K), while keeping leasing off my plate. If I go Full self-manage, I’d save ~$112K gross (~$90K net after tax), but it could mean 15–20 hrs/week in management, plus seasonal spikes — and that’s time I’d otherwise spend sourcing or managing BRRRR rehabs.

Here’s the tension: One BRRRR deal in my market creates ~$75K in forced equity. If taking management in-house costs me even one deal per year, the extra savings disappear. If it costs me two deals, Hybrid actually wins out.

Curious how others have navigated this. Has anyone regretted taking management in-house because it slowed down acquisitions? For those running hybrid setups, how do you structure leasing season (VAs, leasing agents, partial PM partnerships) so it doesn’t become a time suck?

Hello,

I am considering investing in a college town and would like to learn from other have done so.
What are the biggest pros and cons you've experienced with student rentals?
Anything you wish you had known before investing?

Leo

Hi everyone,

I'm a new investor from Austin, TX, and I'm hoping to get some thoughts on an idea I'm exploring.

I'm thinking about buying my first rental property in a Midwest college town. Something small to start with. The plan is to rent it to a student from fall through spring, and then use it myself during the summer months to try and escape the Texas heat.

Has anyone here tried a similar strategy? I'd love to hear your advice on the pros, cons, and any tips for a beginner.

Thank you

Hey everyone —

We’re actively expanding our portfolio into student housing and building long-term buy-and-hold strategies around Tier-2 and SEC campus markets.

Target Criteria:

• 80+ units (purpose-built or converted)

• Within 3–5 miles of campus

• Markets with growing student populations and limited new supply

• Ideally pre-leased or with some operational track record

• We’re open to both on- and off-market opportunities

We’ve modeled our acquisition approach around high-yield, Tier-2 university markets (think: Coastal Carolina, Troy, Kennesaw, Eastern Kentucky) where competition is lower, student demand is steady, and mom-and-pop owners still control a big chunk of inventory.

We’re also looking at core SEC metros — Auburn, Columbia, Knoxville, etc. — but only where value and scale align.

Appreciate any intros, perspectives, or war stories from the trenches.
Always looking to trade insights, let’s connect.

I’m exploring a strategy around student rentals and wanted to get some feedback.

The idea is to buy affordable 3–4 bedroom single-family homes near a university, rent them by the room at $500–$700 each, and furnish them to appeal to students.

Example:

• $120K purchase + $15K rehab = $135K all-in

• 4 rooms at $600 = $2,400/month gross rent

• After expenses, projected CoC return is 10%

Has anyone here had success with this model? What challenges should I be ready for (turnover, management, wear and tear, etc.)?

Hi Everyone, long time pod listener, first time poster. I'm curious if there is a population on here that owns student rentals? I haven't heard student rentals discussed on Bigger Pockets podcast or Real Estate Rookies. While I see similarities to co-living strategies, there are a lot of unique situations that come up with student rentals due to the "student"/young adult nature of the renter. My husband and I bought a student rental in a small market 2 years ago and are learning a lot as we go, but I'm struggling to find experienced landlords in this space who I can learn from as well. Is there a community already on this forum?

I am an Investor in the Boston area, dropping off new student at USC next week.  I had a difficult time finding a decent Air B&B, so led me to start looking at the market.  Can anyone recommend a neighborhood (looks like there are numerous areas within Columbia?) for a upper scale rental unit I would use as a short term rental?  Anyone have insight about the demand?  Looks like there are several good attractions in the area, and lastly - anyone know of a property manager in the area?

Thanks in advance for any and all info.....appreciate it!