Student Housing
Students and Parents,
In today's world many parents are opting to purchase a duplex or a small home for their students, rather than paying the rising costs of student housing. Why pay $1200 a semester to live in a scary student rental where you don't even get your own room.
There are many duplexes close to campus in the $80,000- $100,000 range. Why not own your own place rather than pay for your landlord to own it.
A typical student pays nearly $300.00 a month in rent. Which means that a duplex which holds 4 students can generate $1200 a month, if your student does not pay rent then you still bring in $900 a month which is more than enough to pay PITI (principal, interest, taxes, and insurance) for a loan on a $100,000 property or even more.
Does this sound interesting? Here is what to do.
1. Talk to your bank and see what your options are. How much do you need down, what would your PITI payments be for a $80,000 to $100,000 property.
2. Call me and see what is available for duplexes near campus. I can email you the MLS sheets on all of the duplexes available and we can set up a private showing for you and your student.
3. Buy a property and don't worry about paying rent for the next few years while your student is in college.
FAQ's
1. What if I do not want to deal with renting out a duplex?
A: There are several property managers in the are that for a % of the rent will deal with a majority of the rental process as well as the upkeep of the property.
2. What happens when it comes time to sell?
A: I will can sit down with you and go over what I can offer you in the sale of your property. I can present your property to the buyers that I am continually working with as well as all the other parents I am working with, who are in the same situation you were in several years ago. There are many more potential ways to market your property, I will go over all of them when we sit down to talk about selling your home.
Note: All prices and figures are approximations check with your bank to see what the exact payments would be.
