Comments on: Off Campus Housing – More Reasons Why It May Be A Good Investment

By: MyHome.ie Editor

MyHome.ie Editor — Wed, 29 Jul 2009 11:53:34 +0000

Make sure you advertise your student housing in the places the students are looking!

Here’s a hint: http://blog.myhome.ie/post/College-Accommodation-Where-to-start-looking.aspx

By: Todd Covington

Todd Covington — Fri, 19 Dec 2008 07:30:33 +0000

Buying a home when you get to college or buying it for your son/daughter is a home run. I watched several parents do it for college friends of mine. You would not believe how much money these parents were making in a 4 or 5 year span. The funny thing was it was always the parents who were wealthy from previous good investments. The rich get rich is so true. I know, I know, times are tougher now. While they are tougher, I’d love to see one person who things housing prices won’t go up in 4 to 5 years.

By: david doumar

david doumar — Sun, 14 Sep 2008 21:20:40 +0000

what is location of property to campus, is it still available? any add’l info?

By: Steve in Michigan

Steve in Michigan — Wed, 09 Apr 2008 17:26:07 +0000

If you do not have a house in or near Big Rapids your student will be charged the following rate for housing!
FSU Room and Board (19 meal plan) $7646.00
If you divide this by the 9-month school year it equals $850.00 per month.
If your student stays in FSU housing for 4 years this equals $30,584.00

If you own a home in Big Rapids your student can live off campus immediately, “BUT” you have to show this address as the student’s home address when he or she applies to FSU.

I have a property in Big Rapids that I would like to sell. We purchased this property for family members attending FSU that have now graduated. This property is leased through August of 2009 for $1,000 per month. Tenants pay all utilities.

Asking Price is $110,000
A 30-year mortgage at today’s rates are below:
7.00% = $731.83 6.75% = $713.46 6.50% = $695.27

This rental unit is four bedrooms with three baths and is located several blocks from FSU. Appliances have all been replaced within the past three years and there is plenty of paved parking. Property was renovated in 2002. We lease to one student and that student sublets rooms to three other students. We receive our rent check and we pay only mortgage, taxes, insurance, and summer lawn maintenance.

If you are interested in saving dormitory costs, you must use a Big Rapids address as your student’s home address when they apply to FSU.
If you are interested in this house please contact me, Steve Pearsall at alaskan@chartermi.net

By: StudentRent

StudentRent — Wed, 14 Nov 2007 20:58:14 +0000

Off Campus student housing can be a great investment especially if you take care to maintain the the property and set clear expectations of the renters. Rentals near campus often fetch higher lease terms and require less detailed maintenance. Also, instead of installing and replacing high quality carpet every couple of years, try pergo type flooring which can be less expensive, hard to stain and gives an upgraded aesthetic. Be sure to take advantage of inexpensive online advertising!

By: Austin Real Estate

Austin Real Estate — Thu, 01 Mar 2007 00:22:48 +0000

I dont know if this is a sure bet. If the campus decides to increase the amount of on campus housing you could run into trouble. Also students tend to stay at places for shorter periods of time so an owner can spend alot of money on make readys and advertising.

By: Tom

Tom — Wed, 28 Feb 2007 16:03:55 +0000

I know I would have in college.

By: Real Estate Guide 101

Real Estate Guide 101 — Wed, 28 Feb 2007 13:36:44 +0000

Hello Tom,

Well a place with all the facilities, like in this post, Internet connection which will help them with communication and study, bus stop right outside will help them reach places in time and pizza place on the ground floor wow they will love it….

By: Garrett Koerner

Garrett Koerner — Wed, 28 Feb 2007 05:52:26 +0000

Good post. However, like you said, college students can be harder on properties that other potential tenants. Do you have any guidance on how much should be saved in a reserve account…for fixing up the property after a couple of years or after a group of tenants move out? Maybe a fixed amount per month or percentage of rent collected. I would be interested in anyone’s experience. It would be nice to own some property close to campus and watch it appreciate over the years but if students are tearing it apart, without any subsequent improvements, I could imagine that there would be little or no appreciation. Thanks, Garrett (www.equitygreen.com).