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Updated over 5 years ago on . Most recent reply
Housing Appealing to High Point University Students
Hi all!
I'm Gloria and am incredibly new to real estate. I'm currently a full time professional student, and am looking to use real estate as a means of paying off my student loans and attaining financial freedom.
Currently looking at the high point, NC area for investment opportunities. SF and MF homes that would accommodate college and graduate/pharmacy students living with roommates. Does anyone have any thoughts about this group of clients? Has anyone had any experience renting to high point students and can provide any advice on ideal streets or areas they tend to prefer? I know safety is a major concern for parts of high point. Any advice of streets to steer clear of as a newbie investor?
Any and all advice is appreciated!
Thank you!
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Hi @Gloria A.,
I don't own rentals in HP, but I own in the Triangle and Triad. Also, I toured HPU a few months ago with my son and I got a good feel for the university and the immediate area surrounding it.
High Point has an incredible amount of inexpensive housing, including in the neighborhoods surrounding HPU. However, HP is a divided city, with a middle-class population that lives well, and a severely deprived lower-class population. HPU is surrounded by a 6-foot (or taller) iron fence and the only entrance is constantly manned by one or two guards in a guard booth. The type of parents and students I met while at the university ... I won't say a lot more about it other than to say I don't think many HPU parents would set up their children in rentals in the immediate area. The campus and the surrounding area are as far different as you could imagine. The university's tuition and fees exceed $50K and most of the parents are upper-middle class to upper class.
If you buy rentals in most of the neighborhoods surrounding HPU, you should plan on renting to the citizens who already live in those neighborhoods. Most of those neighborhoods have dilapidated houses on most streets, many with people living in them. This area is a long time from gentrifying.
If you buy cheap houses in HP, you should either live in the area or already have a PM in mind with whom you have a long and trusting relationship. I don't think it's a bad market overall, and I might buy there in the next year or two. However, I'm close enough to keep an eye on things, and I have experience renting to a lower-income population.
If you do not live in the HP area, I suggest you look for rentals closer to where you actually live or where you plan to live after you graduate. Managing low-entry-cost High Point rentals long distance is not something I would recommend for a novice investor.