Rapidly growing small town, college housing?

[Chance Bostick]

Hey guys,

I just finished reading Rich Dad Poor Dad today and really enjoyed the book, but now I'm ready to start taking action.  I live in a relatively small town in central Texas with a population somewhere around 21,000.  We've got Walmarts, movie theaters, a bowling alley, a lake, tons of restaurants, etc.  We are an hour from Austin, and 2-3 hours from Dallas, San Antonio and Houston.  We've got a University in town and a ton of new businesses and housing developments are going up left and right.  New schools are being built, including a 2nd high school.  It seems like a pretty great time to dive on in and get started.

I had originally wanted to house hack a multifamily, but there aren't any here.  At least none that are for sale.  The ones that are here are either brand new or 20 miles away in a high crime area.

After reading that book, I've started thinking about other ways to invest and am now considering a single family home that I could both live in and rent out the other rooms to college students.  Does anyone have any experience with this or advice?

[Ann Harvey]

I'm a newbie and still learning, I'd like to say, however, that my husband and I bought a house that we live in and we rent rooms to college students and have LOVED the cash flow. Definitely wait to hear from others, but wanted to chime in that we did it without a lot of knowledge and now we're super excited to learn about real estate investing and make this a solid way to earn income! 

Best wishes to you...great you're starting so young, too!