I have been researching student housing for investment. Can I get recommendations for books I should read? Or anything else associated with student housing. I’m looking to gather as much knowledge as possible so I’m more comfortable in making my first investment…with little or no surprises (preferrably no surprises!)
What garnered my interest is several properties I’m looking at. One in particular is a 4 bedroom townhouse less than a mile from the college and well kept and already secure for the 2007-2008 college year.
Price: $170k (looking into putting as little as possible down, 5%, etc)
HOA: $1240/yr (handle all exterior including roof, siding, etc)
TAX: $900/yr
Insur: $500/yr
MGMT: 10% of the rent ($1500 or $375 per student; also property too far to self manage)
Rent: $1500
Thanks for your advice in advance…