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Old 06-08-2011, 01:47 PM
 
355 posts, read 922,884 times
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I'm considering buying a condo in the West Campus area as rental/investment property.

Hoping this might be a fairly maintenance free, passive income generating, no-lose good investment kind of thing...

Any thoughts, neigh or yeah?
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Old 06-08-2011, 02:25 PM
 
Location: central Austin
7,228 posts, read 16,095,392 times
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ha! West Campus definitely does not equal "maintenance-free"

I would expect to spend a significant sum annually on maintenance and pre-rental prep.
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Old 06-08-2011, 03:31 PM
 
Location: Heights
594 posts, read 1,249,110 times
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As someone whose family owns a condo in West-campus I can tell you that it is absolutely tons of work.

Many tenants (especially students) are careless because they don't own and there's plenty of maintenance/repairs to be done between tenants. You are lucky if you have good tenants and even luckier if they stay more than a year.
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Old 06-08-2011, 03:57 PM
 
2,596 posts, read 5,580,467 times
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Quote:
Originally Posted by lemonlime22 View Post
I'm considering buying a condo in the West Campus area as rental/investment property.

Hoping this might be a fairly maintenance free, passive income generating, no-lose good investment kind of thing...

Any thoughts, neigh or yeah?
No, it doesn't sound likely to be any of those things. You'll find students living alone for the first time aren't going to be the best bet for taking care of a place properly. I remember those years and shudder...
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