Finding Deals in Overpriced Market

[Trevor Neis]

Hello everyone,

I was wondering if anyone has any tips on buying houses in a overpriced market? I want to buy houses in Manhattan, Kansas, where both rent prices and housing prices are relatively high. My problem is I want to buy college rentals, however the area where most of the college students live is insanely overpriced. Investors are trying to sell run-down college rentals that rent for $300-350 per bedroom for over $200,000. Obviously those numbers are no where near what you need them to be to cash flow positive.

Surprisingly there is no real estate club in Manhattan, despite there being a huge investor presence in the city. Rentals make up over 70% of the houses in Manhattan, due to the fact of the college and because of a nearby military base.

If anyone has any tips on connecting with investors that own these houses, or other ways that I can try and find better deals in these college houses, I would be very appreciative!

Thanks