Potential Profit in Student Housing?
Thinking of shopping for real estate investment properties? Here's a great blog post (by Ryan Poelman, CSO for Nudge and the CEO of BuyPD) about the benefits of jumping into the student housing niche:
"...there can be great opportunity in owning rental property near schools.""Properties between a half-mile and a mile from campus have occupancy rates of 95.1% and average rent of $542, up 1.8%."
Lucky for us, Bozeman is the home of an outstanding university. Enrollment at Montana State University for the 2015-2016 school year is reportedly 15,688 students. Many of those students choose to live off campus. 75% of them, to be exact! (source) That could spell income for someone invested in close proximity rental properties.
So, do you think you're ready to become a landlord? Here are a few tips from Interest.com for getting started: (source)
- Recognize that being a landlord is a business.
- Start small.
- Don't invest somewhere you don't know.
- Figure out the right rent.