College town YES or HELL NO

[Jason Schimer]

I'm going to make this a simple discussion starter. I've been looking at multifamily homes utilizing large college rentals. In my opinion this will not guarantee but it will assure more odds of getting rooms rented for a minimum of a year. So that's my question... Invest in college lease YES or HELL NO?

[Colleen F.]

Check the towns ordinances to see whether they have anti-student ordinances such as restrictions on the number of unrelated people. Don't want to buy a 5 bedroom house and find out for students you can only have 4 (even though HUD would say a family of 10 could live there). Also if you haven't managed twenty something's keep in mind they are not usually house smart. You may have been a lot more savvy when you were their age so you may get weird calls. Expect to demonstrate how to turn on the heat, flip a breaker ,plunge a toilet etc..... so yes or no is really based on if it works or your area and you like to or can tolerate that tenant pool.