Loaded question about student rentals

[Felipe Diaz Valadez]

Hi everyone this is my first post and I'm excited to get some advice to start my real estate journey! I'm Felipe, born and raised in Las Vegas and have lived with my parents throughout undergrad while attending UNLV. I have been fortunate enough to have been accepted into a program at UNR so I'm moving to Reno to continue my education in late August 2021. Since I'm moving to Reno, I've decided to buy a single family, probably 3-4 bd, and 2 bath that's close to University of Nevada Reno (max 15 mins driving distance) instead of renting a dorm/apartment and giving my money to another landlord. Long story short, I want to house hack a student rental via a single family house near UNR. I'm seeking advice from real estate investors that are knowledgeable about the market and/or student rentals, and can recommend great real estate agents (or even which ones to avoid), property managers, respectable lenders (would it matter if I seek a loan in LV vs. Reno?), tax attorneys/CPA (do I need one this early in the game?), and/or great contractor/handymen. I know everything is weird with COVID but if you can recommend a REIA (either in LV or Reno) that'll be awesome! I know that's a loaded question but I want to learn as much as I can about the market and get some advice before buying a house! If anyone in Reno and/or has experience with student rentals, I'll appreciate any advice :) Blessings and happiness, thanks again!

[Michelle Jezycki]

Felipe, welcome to Wolf Pack Nation! Kudos for getting into investing while still in school! I’ve had several student rentals in a few states, including northern Nevada. I also have some contacts (lenders, appraisers, handymen, etc) that I’d be happy to share.

Per a previous reply, inventory is tight and moves quickly. I would recommend getting pre approved ASAP so you’d be in best position to act when the right property becomes available. Further, you may be interested in working with some off market properties and owners. Reach out if you need any help before you come up north!

A UNR alum,

Michelle