Student Housing Vs. Cheap Single Family Homes
Hey Everyone,
Quick question for those of you that live in Florida, especially the Orlando, or Tampa areas.
I'm wondering if it would be more sensible to buy a quadplex close to UCF and be able to get $1,000 per unit in rent a month but risk the place being destroyed every year and high tenant turn over.
Or...
Buy a cheap single family home that needs some work, something between 25K-50K, put 10K-20K into it to make it nice and somewhere would a family would like to live, and then charge between 800-1000 for rent.....and buy multiple properties like that. Upside is hopefully lower turnover, should be lower maintenance costs depending on how well I fix them up in the first place, and more security of a family paying rent on time each month.
What does everyone think?
Most Popular Reply
I would recommend getting the parents as guarantors on the lease. When my daughter got an apartment off campus we had to do this and now I am using that concept on my college rental as well. Mommy and Daddy's check don't bounce!