College towns

[Alexandra Preziosi]

I am under the impression that an investment in a property in a college town will have instant demand for renters. Is this a fair mentality to have when assessing whether to purchase a property in a college town? In addition, I understand the risks posed when offering your home to college students. Does anyone have experience in investments in college towns? How have the worked out for them profit-wise as well as sanity-wise? Thanks!

[Daniel Hyman]

I have a client who purchased a former fraternity building in the heart of Madison, Wisconsin. He converted it into separate studio apartments. He has done very well and the property continues to appreciate.