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20 May 2024 | 13 replies
This is something to budget for when considering this type of rental.Management Intensity: Managing student rentals can be more hands-on, requiring stricter lease agreements, regular inspections, and sometimes dealing with noise complaints or other issues.Seasonal Vacancy Risk: There’s a risk of vacancies during summer months unless you find tenants who stay year-round or offer summer sublets.Zoning and Regulations: Some college towns have specific zoning laws or regulations regarding student housing, so it’s crucial to be aware of these and ensure your property complies.Tips for Success:Proximity to Campus: Properties close to the university are more desirable and can charge higher rents.Furnishing: Consider offering furnished rentals as students often do not have their own furniture.Strong Lease Agreement: Have a robust lease agreement that includes clauses for damages, noise, and other common issues.Hire a Property Manager: If managing the property becomes too time-consuming, a local property manager with experience in student rentals can be a great asset.Overall, student rentals can be a profitable investment with the right management and location.
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21 May 2024 | 8 replies
It seems like there hasn't been much discussion about new residential construction projects and the opportunities they offer.
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21 May 2024 | 1 reply
This trend has fueled demand for rental properties, particularly in urban areas and multifamily developments, prompting investors and developers to focus on rental housing options tailored to Millennial preferences.Desire for Community and Shared Amenities: Millennials value experiences over possessions and seek communities that offer social interaction, connectivity, and shared amenities.
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20 May 2024 | 6 replies
There are going to be a lot of properties sitting on the market and doing price decreases (but they won't come with a built-in system like turnkey) and you are going to pay up for turnkey and insurance right now.
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20 May 2024 | 13 replies
Or offer a mix, like x% interest + 30% equity ownership.
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20 May 2024 | 14 replies
Before I put a offer in I looked to see if there were any open permits, there were none.
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20 May 2024 | 2 replies
Zillow's API is no longer offered (or they make it extremely hard to access these days - have had no luck finding an updated link/page for it), Redfin has broad-stroke CSVs you can download that only give 5-10 fields of info and not often at the metro area, you can't legally create a tool to crawl these websites...I'm looking for 1 (or a handful of sources) to pull together basic metrics at the metro/city level for US real estate.
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21 May 2024 | 3 replies
If so, they can't offer 1/2 a month of rent to other agents, so no point in putting it on the MLS.Several of our Detroit market competitors play the same game on cheap owners.
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20 May 2024 | 7 replies
I told them I didn't want to do the consortium deal, so they offered me another one where I would need to pay a 30k USD down payment and have an EIGHT PERCENT INTEREST RATE.