Starting in a college town!

[Evan Jackson]

Hey everyone this is my first time on the forums! I am wanting to start investing in my college town of Murray, KY. Any advice on how to invest in rentals in a college town? Thank you!!

[Brett G.]

@Evan Jackson

-Find out what college rentals rent for in your area. They can usually rent for more than a typical rental. For example, maybe you can get $1000 for a 4 bedroom as a regular rental. However, maybe you can get $400 per bedroom as a student rental.

-Some landlords rent by the room. I prefer to to have one lease that everyone is on.

-The more bedrooms and bathrooms in a house, the better. If you are getting $X per bedroom, a four bedroom is better than a three.

-Find out the local college rental cycle, i.e., sign leases in May for a Aug-July lease. It can vary from area to area.

-Buy close to the school, as well as other amenities such as bars, stores, and other places college kids want to hang out.

-Check the zoning laws regarding number of unrelated people allowed to live together.