All Forum Posts by: Nick LoFaso

@Joe White the former. I plan to use a property management company to find the tenants. 

@Tzvi Ausubel Thanks! I'll send you a PM to discuss further.

@Max Porter welcome to BP. I am also getting started and looking to invest in the Greater Philadelphia area. There definitely seems to be something here for every type of investor. Good luck!

@Joe Cusick I'd be interested to learn more about the opportunities present in the Lehigh Valley area.

@Joe White thanks, do you have a recommendation for a Philly realtor that deals with student rentals?

Hi @Saran Mandhadapu, I'm just getting started, so still figuring out the lay of the land. In terms of why I like student rentals... They generally have higher rents than traditional properties. However, there is the downside of frequent turnover, and increased chance for damages.

@Joe White How has your experience been in those areas? I was thinking the price point may be too high for me, but I'll have to take a closer look.

Hi All,

I am looking to invest in the greater Philadelphia area. I recently started looking into student rentals for Lehigh University in Bethlehem, PA. Anyone currently doing this, or have any insight on the state of the market there?

Thanks!

Hi @Phylicia Stephenson welcome. I'm new myself and am looking into buying my first student rental in upstate ny now, specifically Binghamton. 

I'm also in the NYC area so I have encountered the same high local prices you mentioned, hence why I'm looking elsewhere. 

I've run the numbers on a couple of 5br single families in Binghamton and it seem to check out. A ~110-125k property can rent for ~$2000. I'm hoping to receive $400-$500/month cash flow. Like @John C. mentioned a property manager definitely eats into your cashflow but it's still seems viable. 

Keep in mind I haven't purchased anything yet, so take what I've said with a grain of salt. 

Hi @Christopher Stanis thanks for the info. I am looking to invest in student housing in Binghamton too. Do you happen to know any reliable property managers in the area?

Thanks @Scott Trench. I am looking forward to interacting with the community and learning a lot!

Hi Guys, I am also looking to invest in student rentals in Binghamton. I am a BU alum so I know the area fairly well, and it seems like a decent place to find cash flow. 

How has the rental market there treated you so far?