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Old 04-30-2013, 02:30 PM
 
Location: Philadelphia
11,889 posts, read 10,448,298 times
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Quote:
Originally Posted by Summersm343 View Post
Center City Philadelphia and the surrounding area is on fire right now.

Rents are rising. Vacancy is below 2%. Bidding wars. There is a lot of desire to get into the Center City market right now.
True, but I'd imagine the ROI is much higher in the less desirable neighborhoods in Philly.

In what other city can you buy a place for less than $100,000 and rent it out for $1,000+ per Month?
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Old 05-01-2013, 06:00 AM
 
21,285 posts, read 30,595,867 times
Reputation: 19787
Quote:
Originally Posted by canudigit View Post
We currently live 25 minutes from a very vibrant, popular, college town that is home to one of the "public Ivy League" schools and draws people from all over the world. The problem with this area is that prices just seem way too high for the quality and condition of the properties, property taxes are exorbitant there, and college kids are notorious for tearing up rental property. Also, it would be somewhat seasonal. Rents are high, but I'm not sure if we want to deal with all of the hassles of renting to college kids after being in this business for over 25 years now.
College towns are a terrific way to go and I would look past your oversimplified version of renting to college kids which in your mind probably equates to Animal House-like undergraduates. Beyond that level of the rental pool sits a significant population of graduate students/professional students (med school/law school for instance) as well as faculty new to the area or short term, or those doing research on short term projects visiting form elsewhere. It's a diverse bunch and you can pretty much choose via location and how you advertise as to who your tenants will be. College towns are basically recession proof and can provide an appreciating investment if one chooses wisely (like anywhere else).
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