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Old 06-09-2010, 11:43 AM
 
Location: Bronx, NY
17 posts, read 39,967 times
Reputation: 12

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Hi everyone,
I want to start investing in rental property and my fisrt thought was college/university areas where i can rent to students. Thinking about purchasing a 2-3 bedroom home which can generate enough rent to cover my mortgage/taxes/other expense. Not sure if this is possible.

Does anyone know the SUNY albany area or has lived there? Is this considered a safe area? How much rent can i expect to generate with a home that sells for ~150k? Thanks in advance!
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Old 07-06-2010, 11:52 AM
 
Location: Buffalo NY
6 posts, read 23,624 times
Reputation: 10
Well, have you thought about students and not having stable year round tenants? Isn't it better to purchase a property that is already fully rented and have a stable property mgt company that gives a one year minimum guarantee of rental to you? Not to mention, how will the students take care of the property? Are you going to have to rehab the entire property every year?

Also how are you going to pay for this? Most investment properties want cash in full, which equals a quick closing.

Lots to think about and yes it is possible
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