If you live in a college town, chances are the vast majority of your population is composed of college students. Believe it or not, that could make a big difference in the kinds of real estate investment decisions you make. You always have to plan out your property investing around the area you plan to put money into. In this case, you need to realize that your audience is mainly going to be college bound students. Here are some things you can do in this situation to make your property plans all worthwhile in the end.
First, realize that in a college town, you will be working with rentals far more than you will be working with sales. University students do not stay in a town long enough to actually buy property, and those that do usually cannot get a loan for a home. You could get lucky enough to have one of the existing families in your area invest in your property, but you might as well work with the audience you know is there. Before you move forward, have it set in your mind that your real estate investment will be headed towards rental properties.
When you make a real estate investment like this, you may want to look into properties that would work well for roommates. Homes that have bathrooms in each room are great because you can charge per room and make a lot more on rent that way. You will need to get a good deposit for the property because college students tend to be rough on homes unless they have a family. Be prepared to clean the carpets and fix a few holes in the wall whenever you have to re-rent to someone else.
Make your real estate investment close to campus if you can because that is always a selling point for a property. If you can advertise that the home is within walking distance to campus, you can attract a lot of tenants. You can also charge more for the convenience of the placement. You could move away from homes and even look into apartment complexes if you had the right funding. That is up to you. Nevertheless, there is great potential in a college town for investing if you put your mind to it. Make your location work in your favor and you could make a lot of money in the end.