Long-term rental with college students tenants

[Chad Spanberger]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $175,000
Cash invested: $35,000

Rental property to college students.

What made you interested in investing in this type of deal?

With the rental market in my city we are able to charge more for students than we could a family.

How did you finance this deal?

conventional loan

How did you add value to the deal?

We remodeled the inside and added a deck in the back. We expanded the primary suit bathroom and took down a wall that you use to walk straight into when you came into the house.

What was the outcome?

We refinanced and pulled out about $50,000 and bought another house down the road for the same use.