Would a college town be certain death to a new investor?

[Andrew Fudge]

Hello everyone!

My friend and I have been tossing the idea around of investing in our college town however I've been having second thoughts regarding the process. I wanted to reach out and ask if any of you have had any significant experiences dealing with properties near colleges and universities, either good or bad. 

My friend mentioned parents paying rent for their kids which makes sense to me, but I've also seen a lot of situations where students are getting little to no help from their parents financially. I am mostly worried about rent payments, and the upkeep on the property. The only thing that could possibly assuage those feelings is if I hacked the property and lived in one of the units!

Thank you for any help!! 

[Eliott Elias]

I'm assuming you're reffering to UT Austin? 1. Most those students get tuition paid by their parents. 2. Expect the worst, these are college kids not young professionals who go to bed at 10pm to wake up for work. There is going to be some abnormal wear and tear on the property. 3. Make sure each tenant is responsible for their rent, don't put one number on the lease and expect it to get collected and paid in total. Hold each student accountable.