All Forum Posts by: Chris Quinn

Hey @Ricky West, welcome to BP. I am a realtor in B/CS and happy to answer any questions that you may have. I suggest you look into our one and only investor club (BRICS) They actually have a monthly happy hour tonight, 11/16/16 at Phillips Event Center. It is from 4:30-6:00 pm. I was planning on going. If you are free, you should come and we can meet and chat.

@Ross Leavitt what do you think about this idea. If you want an individual lease rent be 425/room. Lease the whole place at 1 time with 2 other occupants and rent is only $1200/month (what I originally wanted) I have factored in reducing rent for the area if you want to say that. I live on the south end of town and work in the north end (downtown). It is 13 miles home to work and travel time really isn't that bad.

We have made design changes to accommodate for the 3rd bathroom. It will have communal (guest) access along with being attached to the third (front) bedroom. Individual leases might be an option.  

@Ross Leavitt for our town 4 miles really isn't bad at all. I was speaking to some current students yesterday about proximity to school vs costs and overwhelmingly the students agreed they would rather live 4 miles away for under half the cost. 

I also spoke with planning and zoning this morning. The property is outside city limits!!! Meaning I will not need to rezone as there is no zoning. 

@Patrick Liska Since it is out of county, it does not have a unrelated residents compliance. 

Water and sewage lines run across the street, so they shouldn't be too costly/difficult to tie into. The only issue is trash and that is done by a 3rd party provider to the county. I will not be required to meet city compliance for my street running up the middle of the property.

Overall, it was a good meeting and makes the property seem even more promising.

It is currently zoned Ag-Open. I plan to go talk to Planning and Zoning this week. It is roughly 4 miles from Texas A&M and about 5 miles from the junior college. As far as student living, neither Blinn nor Texas A&M have a first year on-campus requirement. The college is updating some of it's dorms, as some prefer to live on campus, but many do not. We have an excellent bus system and it makes it easier for students who prefer to live off campus. We do have a lot of luxury high-rises going up that are basically walking distant to TAMU campus. These places are charging 800-900 per room. So a 4 bedroom is bring in close to $4k/month. Personally, I think they are over-pricing themselves out of a lot of tenants. 

I am a realtor in a college town. There are probably 260,000 residents not counting students (and constantly growing). We have a community college with roughly 20,000 students (Blinn College-Bryan campus) and a major university (Texas A&M) with about 55,000+ and growing every year.

I am trying to develop a marketing plan to target parents of college students explaining the benefits of home ownership, equity vs. wasting rent, valuation increases (local association numbers said Oct '16 prices were up 15% from Oct '15) in a growing town. We have many 4 bedrooms, even some 5 & 6, where the student can use one room, the parents rent the rest and more than cover their mortgage. I estimate we have 20,000 new students moving to town every year.

Idea #2: For the investor side of me, as something to create passive income and let me money work for me.

I am currently in the EARLY stages of creating a business proposal to plan out a duplex "subdivision". Multifamily units (mainly duplexes, because of the private backyard. We have A LOT of students who end up getting dogs) are popular around here. However, duplexes are hard to come by as far as owning. Many owners realize their potential and are reluctant to sell. This is why I have begun plans to build and manage my own duplexes. I have looked at everything from 1/2 acre lots (which could hold 1-2 duplexes) all the way up to a 9 acre lot that could hold 18-22 duplexes (when it's all said and done). The 9 acre lot has peaked my interest. I will be developing a business plan and hope to attract some financial backing, as preliminary projections are at about $2.5M (at 18 duplexes) for total build out including the land, road, sewage, and 18 units-3 bed / 2 bath, 1100 sq ft. (on each side). 

I have never done this before and would love some feedback.

I am a realtor in a college town. There is probably 260,000 resident not counting students (and constantly growing). We have a community college with roughly 20,000 students (Blinn College-Bryan campus) and a major university (Texas A&M) with about 55,000+ and growing every year. I am trying to develop a marketing plan to target parents of college kids explaining the benefits of home ownership, equity, valuation increases in a growing town. We have many 4 bedrooms, even some 5 & 6, where the student can use one room, the parents rent the rest and more than cover their mortgage. I have concluded that every year we have ~20,000 new students coming to town for 4+ years. Ideally, a list of registered freshman would be best, but acquiring said list is not the easiest of feats. Do you guys have any suggestions on how to try and market to these parents?

Jeremy I. I hope your move went well. If you have not found a potential rental, I would be happy to stay on the look out for you.

Charles Wilson I am a Realtor with Cortiers Real Estate. I would be happy to assist you in your multi-family search. Typically, buyers do not have to pay any of the agent fees. Let me know if I can help

As a newer agent myself, I started taking Peak Producers by Buffini and Co. I'm only a week into the program and I feel it is helping establish that plan and strategy. Look into it, read reviews and ask your brokerage if they know about it. Most have.