Best Strategy Around University

[Kevin Addo]

I plan on obtaining my 1st investment home by the end of 2016. My plan is to locate a multifamily minimum of 3 units around a University. I have heard charging by room would yield the best monthly income! Does anyone have any other suggestions? The whole idea of locating a multifamily around a University is to get students to rent for cheaper than dorm living and rent out to students only. Does it make sense to sign contracts with students parents only? What should really be considered if I am charging by room as far as what is included and what is not? The locals in the area represent a lower income which I have heard is not the most reliable source of monthly income. Any suggestions will help in my research! Thanks in advance! 

[Danielle Fattizzi]

Another angle is to offer 8-9 month leases for undergraduates during the months they're actually present and in school, and charge graduate students a monthly premium for a 3-4 month lease during the summer months when they're working on their degrees. It will vary from student to student, but that is one way to keep everyone happy and make a little extra on your investment.