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Updated almost 7 years ago on . Most recent reply
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What up guys, newbie in Towson MD
Hey guys my names Abhi and I'm really interested in investing in single or double family homes for rentals. I grew up in Rochester NY, went to school in Pittsburgh and now I'm living in Cockeysville, MD and working in York, PA. It's an interesting situation because I live in a most expensive area where you cant really get a single family townhouse for under 250K anywhere in the town and the standard of living is pretty high. On the other hand, York PA where I work is on the other side of the spectrum where the majority of houses are under 100K and there are two small colleges in the town (Penn state York, and York College). Only downside to my situation is that I'm not crazy familiar with the area (I moved to the area about 8 months ago)
I like the idea of renting to students because I just graduated and can kind of get in the head of college students and what they like in terms of living situations. But also I realize that students can be a pain because of the quick turn overs. I also like the idea of investing in York because of the lower barrier to entry given the lower prices of homes.
My main questions are how do I figure out what areas in York are going to be the best for rentals (high occupancy rates) and if anybody has tips for renting in the student market.
I'm really excited to be a part of this community and I hope to learn a lot from all of you!
Most Popular Reply
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@Abhinav Garg renting to students is a great way to maximize your rental monthly income but it does come with a cost. Its a high management style of being a landlord. I would watch and learn from someone who is highly successful in that specific market. Since you are familiar with Pittsburgh why not look in this area also. It doesnt have to be a student rental to make it a prudent investment. We manage over 600 units in Pittsburgh and the student housing is only a small part of our management market.