Student Rentals Poughkeepsie NY

[Brian Whelan]

I'm looking at several properties in Poughkeepsie NY to purchase and use as student rentals. I've been analyzing the town for a while and would be interested in hearing from other investors in the area who are renting to students.

The numbers look very promising; low mortgage, high rents (especially when renting to 5 or 6 individuals)- even factoring in all the additional headaches of dealing with students, it still looks very promising!

I came across an article outlining how MArist College is planning on expanding there on-campus housing in 2017 with a huge investment. This stopped me in my tracks as it estimates an approx 40% reduction in the undergraduates seeking off campus accommodation. But there are several other colleges in the area which I could potentially target with the same properties

Anyway, would be interested in hearing people thoughts (good, bad or indifferent) on the area and strategy!

[Brian Whelan]

Great points @Michael Boyer and thanks for your feedback! Funny you bring up thinking outside the box because today I read that the same college will be expanding there graduate programs and so the increase in grad students will most likely off-set the reduction in the  undergrad population..

@Ceril S.I'm not too familiar with the rent demand outside of the student population, I would imagine it's not as attractive but it's definitely something I will be considering.. What's your local college?