All Forum Posts by: Matt Lengel

@Brian Ellis good luck! Do the analysis, make a plan, and execute. Sometimes you don’t really swim until you hop into water over your head.

Make it happen.

Great thread. My daughter is starting her freshman year in college. Her school is having a difficult time handling COVID test results. The end result is that a lot of students are filing to be released from their on-campus housing and moving off-campus (this is after being on campus for almost 2 weeks). Many of these students are athletes who are playing/practicing and can't be caught in a university lock-down of their dorm floor because of one positive test (Yes...that is happening). 

Freshmen had been required to live on-campus, but now we are scrambling to find her a place to live off-campus. This is happening at other schools that are opening also. 

Compared to vacation rentals and some other long-term rentals, I think students (especially if they have parents helping finance their school) are a stable income source...as long as the school is in session.

Good luck!

Matt

@Kwame Williams will DM you later today. Thank you!

@David Patchett sorry for the late reply, but thank you very much for the perspective. We will tailor our search and continue our strategy of “adding value” to our properties.

Looking to see if any members are familiar with the rental market in Clemson, property management rates, and how COVID has affected owners.

Very well written article @Will Gaston. Thanks for sharing your observations on this niche.

What impact is being seen because of Covid? My oldest daughter left FSU in March but still had to pay the remainder of her lease through the summer.

I wonder if some owners are worried about this upcoming school year and unloading part of their portfolio to prepare for the uncertainty ahead.

@Will Fraser thank you for your words. You have some great points.

Currently, we pay for an apartment so that money goes out and does nothing but pay the rent.

We do like the house-hack benefits, especially since they get us into a property sooner. While we would be paying for our own equity initially, we are thinking it’s a better deal (mortgage lower than the rent, lower entry cash required) at this point.

We are still analyzing this option and your comment is helping us!

We have a child going to law school this next year in Greensboro NC and are examining options for a buy and hold/rent property that she and a roommate can live in for the next ~3 years.

We are leaning to properties in a good, safe part of town but requiring some updating so we can add some value to it.

We would appreciate any advice on this approach (as an investment) as well about the local area.

Thanks!

Matt and Kate

We have a child going to college this next year and are looking to purchase a rental property in Oxford MS. We hope that she would live in it at some point but that isn't a requirement.

Would appreciate any advice on finding rentals in college towns. 

When is the best time to be looking for properties?

Any advice on financing such a property? 

Any tax advantages in this endeavor?

We are excited about this next chapter in our lives and learning about these possibilities.

Matt and Kate

We are considering a live-in rehab in Albany NY (preferably a single-family home) for a buy and rent in the future (1 to 2 years).

Does anyone have experience with this? Looking for the ups and downs on this approach, especially financing, project management and future refinance options.

Appreciate your time to help these newbies.

Matt and Kate