All Forum Posts by: Daniel M.

Hey BPers,

After doing some thinking about what niche I wanted to invest in I realized that after bring in college for the better part of a decade I feel very comfortable renting to students, especially graduate students.

Although I have some questions about student rentals over here, the purpose of this post is more about the gathering of rental information.

I have put together a list of college towns and the next step for me to take is to collect information about the rental rates for properties in the different areas. I have been looking at Rentometer but I'm not sure that fully captures student rentals compared to regular rentals.

I was thinking about sending out the following email to property management companies in the towns that can be filled out quickly to collect the information I need to be able to better evaluate properties.

To all property managers reading this, would you spend the time filling out the answers I have asked for, or am I asking too much?

Thanks everyone for your input.

Dear Sir/Madam

I am writing to you because I am interested in investing in student properties in your area and have some questions.

If it wouldn't be too inconvenient, could you please answer the following questions for me? It will help me greatly in learning about opportunities in you area.

1- Do you see a need for more student rentals in your area or do you believe the market is saturated?

2- Are the student properties in your area typically rented per room or per property? Is there a difference in price?

3- Do you see a difference in rental prices between student housing and non-student properties?

4- Are the majority of the rentals in you area furnished or unfurnished? Approximately, what is the difference in rental prices per room for a furnished property?

5- Could you please fill out this table with approximate rental prices?

Thank you for taking the time to read through and answer my questions. I truly appreciate it!

Sincerely

Dan

Hello BP community!

I'm originally from the UK and moved over here about 4 years ago. I'm about to hit 31 and starting to plan my way to financial freedom in 10-15 years. I have a very good credit score and a good job which pays enough for me to live in Sac while putting some money into savings.  I currently work 55-65 hours M-F with weekends off.

My plan currently is to invest in multi family properties to bring in a bit of cash flow while also building some equity in them. I would then cash out the equity to move into flipping properties to increase the amount of hard cash I have on hand which I can then re-invest into more doors. I think my ideal final exit strategy would be to consolidate all of my equity into 1-2 large MFHs which  bring in my monthly income goal.

I would love to invest close to home however i'm not sure if it would be the right move due to the high property values in the northern California area. I am looking further afield and have seen a few opportunities in Yuba City, Oroville, and other smaller Nor Cal cities. I have found some properties which would rent for 1% of the purchase price. 

I also have several family members in the St. Louis area so I feel somewhat comfortable with that area and have been looking at the possibility of out of state investments in the Midwest. If I was to move on OOS investing I would certainly plan on multiple visits to the area while building a reliable team on the ground.

I'm currently absorbing all of the information I can get my hands on, so i'm sure i'll be posting lots of questions. It's my goal to buy my first property at the start of 2019 and build from there.