I have invested in Tax Liens in Wicomico County (where Salisbury is located) and picked up properties in and around Salisbury, both land and lots with improvements on it. Some I have pre-habbed and there is one I'm at the end of a rehab right now. Infact, I was in Salisbury yesterday, overseeing the project. As regards the college rentals there is plenty of competition but that should not be a deterrent since there are plenty of other properties in Salisbury that you could potentially focus on. I am constantly looking for opportunities and I have to say there are plenty out there, though my focus at this time is not the college rentals. I happened to look at a property yesterday which is currently Bank owned and was in an okay neighborhood and this was about 6 to 8 minutes from the Salisbury University. And, the realtor told me that the house could be a potential rental to college students, considering that it is really saturated in and around the university campus.
Since you are already familiar with the area, you should start networking and build your team, which would be the realtors, GCs, handymen, electricians, plumbers, Title companies etc etc.. Do not give up. I have been networking extensively calling agents and talking to them. I am building my team ground up and I have to say there are opportunities out there. Besides the college rentals, you may want to your shift focus on other areas in town where the rentals are thriving as well.
