I have a townhouse in the University Area (5 minutes away off of Back Creek Church Rd) that I plan to keep as an investment. It is 1.5 bath, 2 bedroom with fenced in backyard. This is only to gauge interest as I am considering buying another house now that my family has grown. Would any of you be interested in renting this? I am thinking total rent would be around $900-1000. That prince would include water and trash, but not TV, phone, power or gas. There is a community pool and tennis courts also. What are your thoughts? Interested? Price good, too high, lower than expected? I need your help since I would probably end up with college renters. Is it a perk that some of our best players from the baseball team are neighbors?
I am trying to crunch numbers and gauge interest of college students in the area, so thank you for any feedback you can give me. If you are not a student but have input, please share. Especially if you have a rental property.
[quote=“ChevEE, post:1, topic:22778”]I have a townhouse in the University Area (5 minutes away off of Back Creek Church Rd) that I plan to keep as an investment. It is 1.5 bath, 2 bedroom with fenced in backyard. This is only to gauge interest as I am considering buying another house now that my family has grown. Would any of you be interested in renting this? I am thinking total rent would be around $900-1000. That prince would include water and trash, but not TV, phone, power or gas. There is a community pool and tennis courts also. What are your thoughts? Interested? Price good, too high, lower than expected? I need your help since I would probably end up with college renters. Is it a perk that some of our best players from the baseball team are neighbors?
I am trying to crunch numbers and gauge interest of college students in the area, so thank you for any feedback you can give me. If you are not a student but have input, please share. Especially if you have a rental property.[/quote]
Sounds like a plan. I’ve considered buying a condo/townhouse near the university to rent to students. I figure the market is good and I’m looking for ways to better that AWESOME 0.5% interest I’m earning from the bank.
Chev, Dad does this with a few houses around University. You’ll always have a nice flow of renters. Only downside is the rent is on the higher side of the spectrum for a 2 bedroom, but at $900 you should see some interest. Some of the homes we have are semi furnished with random furniture we don’t need anymore.
Give me a call if you’d like more info, we’ve been doing this for 15 years know and personally I think it is a great opportunity for you.
[quote=“Gill2003, post:4, topic:22778”]Chev, Dad does this with a few houses around University. You’ll always have a nice flow of renters. Only downside is the rent is on the higher side of the spectrum for a 2 bedroom, but at $900 you should see some interest. Some of the homes we have are semi furnished with random furniture we don’t need anymore.
Give me a call if you’d like more info, we’ve been doing this for 15 years know and personally I think it is a great opportunity for you.[/quote]
Does his rent to undergrads or grad students? I figure renting to grad students would be better.
Come to think of it, we’ve only rented to undergrad students a few times. Everytime they were girls and really quiet and shy types. Their parents paid their way.
Most of the time we get grad students or adult students who don’t want to live with 3 other students and party all the time. The beauty of having small 2-3 bedrooms is we usually get quiet people as I think 2-3 bedrooms at that price aren’t as attractive to party animals. Not only that, but we’ve have a very thorough screening process and also get parents to sign rental agreements.