Rental in Tempe (ASU) - Good Idea?

[Brandon Seider]

Hello,

Other than the purchase of the single family dwelling my family and I live in, I’m beginning to consider a first investment property. My son will be attending ASU, beginning in 2024. While he will be living in a dorm for his freshman year, I’m wondering if it makes sense to purchase a rental property near campus, that 1) he can live in, and 2) I can rent 1-2 additional rooms.

I’m not sure if this is a good strategy (purchasing an investment property that coincides with my son’s school arrangement).

Thank you for any insight you can offer.

Brandon

[Mason Weiss]

Quote from @Brandon Seider:

Hello,

Other than the purchase of the single family dwelling my family and I live in, I’m beginning to consider a first investment property. My son will be attending ASU, beginning in 2024. While he will be living in a dorm for his freshman year, I’m wondering if it makes sense to purchase a rental property near campus, that 1) he can live in, and 2) I can rent 1-2 additional rooms.

I’m not sure if this is a good strategy (purchasing an investment property that coincides with my son’s school arrangement).

Thank you for any insight you can offer.

Brandon

Do it, don't overthink it. Your son realistically is the best tenant you can ever have and he can vet your other tenants. This is the best way to secure your first property, my guess is renting by the room saves students money compared to the cost of living in a dorm.