All Forum Posts by: Vikas Kumar

 @Brad Russo I have the same questions about individual room renting. When i went to the open house for this particular property, the rooms did not have individual locks and place seemed nice and clean. Seemed unusual for student rental. I'm assuming the current owner had it cleaned for the Open House.

To start with, will follow the current owner's method of management.

Best,

@Mike Cumbie , Thanks!

Yes, i'm planning to use a Property Manager if i buy in Rochester. So, i need to have enough spreads to cover the PM expenses. 

Best,

You have articulated the state of mind a new entrant very well.  :)

Thanks for your candid answers to my questions. I'll try to keep it simple and share my progress with you all.

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Hi @Aqil Dharamsey,

 As you already have a investment strategy in place, what are the costs of diverging from it? or how should one go about thinking of such divergence? I ask this because, i'm trying to work on this first deal of mine and i'm wondering if i need to restrict myself to this niche going forward as i plan to grow . I hear all the real estate experts on BP and outside emphasize on developing a 'niche' instead of diluting the efforts by mixing up.

Appreciate if Aqil and other experienced investors can share their thoughts on this topic.

Thanks,

Vikas

Hi @Michael Karl, 

Thanks for taking time to talk to your friends and sharing this extremely valuable suggestion. As of now this property i'm considering is 2 unit with 4 BRs each. One Unit has individual rooms rented and the other unit as a whole as you suggested. Not sure why the current owners did it that way, i'll check the current structure of leases.

I'll certainly share how this goes.

Thanks much again!

Vikas

Hi George, I  started exploring Rochester as I was tired of bidding wars in North buffalo. Never really looked at student housing in buffalo. This current Rochester opportunity came from a contact who I met couple of months ago while exploring Rochester opportunities. I found out it is a student housing when I went for open house.  The numbers look good, so was planning on putting in my bid. There is no agent though. Now that you have mentioned UB I'll certainly look into it tonight before I bid on Rochester. Appreciate  any guidance you can provide  on Buffalo student housing market.

Best,

Vikas

Hi Scott,

Thanks for the info. I' just checked rocrooms website  and it was interesting to see that they also lease the property from owners and rent it out to students. I'll call them to find out more.

Thanks,

Vikas

Chiagozie, Also many thanks for the podcast number. I'll listen today!

Hi Chiagozie,

Thanks for your quick reply and valuable advise. The rooms are currently rented, but i'll check with the seller on structure of leases.

In my research i came across this great report on vacancies for UC Davis, shared the link below if it benefits others. I'm assuming the Vacancies in Rochester close U of R might by similar, but will try to confirm by talking Property managers as you suggested. Any Property Managers in the forum, appreciate if you can chime in.

Here's the survey report on Student rental vacancies for past several years:

http://housing.ucdavis.edu/vacancy-report/

Best,

Vikas

I'm new to REI and currently exploring Rochester Student Housing. I live in Buffalo region and as i have been priced out of good areas in N.Buffalo, i'm exploring Rochester.

I have a prospective property in S Plymouth ave with bedrooms rented out separately to students. Can someone please highlight issues/risk with renting out rooms separately? Also how do i look at the vacancies for student housing?

Appreciate your guidance with this.