@Scott LorenceThe advantages to renting to college students are that they generally leave after a few years so you can do repairs or updates, you can raise rents on a regular schedule, they will pay a premium to be near campus, and if you get engineering students they tend to fix the small stuff on their own.

When you are first starting out, you should probably buffer an extra 20% on top of your renovation budget to cover incidentals while you are learning the true cost of flipping.When you do all these things (conservative estimate of ARV, additional 20% estimate on construction costs, using a conservative 0.7 multiplier in your estimate), you are unlikely to lose on your first flip (but it will be harder to find your first flip).  

So, why is McDonalds still spending billions on advertising?

Investors who own this kind of product elsewhere in the country are also welcomed to chime in, as I'm sure everyone is experiencing these issues to some extent.The biggest pain point I have been having with my underwriting on this asset type is insurance.

@Evan Thomas AndriolaDepends on the proeprty/tenant Class.Class A: we usually recommend newer/nice appliancesClass B: we recommend used appliances because tenants don't take the best care of them.Class C/D: we do NOT recommend appliances because tenants don't clean, leading to so much caked on food/grease it's realistically not cleanable.

They're gonna keep on doing things that appeal to the voters.

Definitely open an LLC if you haven’t done so already and once you have a couple under your belt, you will have lenders lining up for your business.

If they don't have time to get on the phone and speak with you to explain how they work, then they will be even more difficult to get ahold of once they already have your business.

But of course were running into the same issues as everyone else, finding a property that actually cash flows, specifically when rented out the traditional way with just one person on the lease.

It’s funny I joined Chads groups on Friday.