College Station Rentals?

[Aaron Krawitz]

I've been looking at a handful of multi-family units in the College Station area (Between CS proper and Bryan). I've never owned an investment property in a college town, but I've read about high tenant turnover and increased wear and tear from student ownership.

Can anyone who's rented in College Station (or other college towns) give their input/recommendations on what's required to keep a unit successfully? Any tips/advice?

Thanks!

[Katie Neason]

Cash flow in student rentals can be tough in College Station. It hit one of the best markets to invest in or fastest growing or some other bs list like that for several years. That led to lots of long distant investors investing on appreciation with little regard to CF. You also compete with the parents who buy properties for their kids to live in. Again CF isn't a priority. If they can have their kids live rent free and sell it after 4 or 5 years they consider that a win.  There have been an onslaught of high end resort type student rentals flood the market with units.  You couple these with with covid and at the outlook looks challenging at best for the next 2-5 years. With that said, there is a renaissance of sorts happening in downtown Bryan and the surrounding area. Property values there have appreciated. We have done many flips, townhome developments, commercial BRRRs and just finished a multi-use residential loft apartment. Staying optimistic but nervous as hell.