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Question: Best performing rentals in B/CS

1,693 Views | 6 Replies | Last: 7 yr ago by scrap
AggiePlaya
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Any landlords/investors have feedback on rental properties that are great candidates for a first time investor?

Which have you found to be consistently leased?
thaed137
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I would look for:

Close to campus.
If not close, then on a bus route.
Established student housing area.
Updated amenities.
Close to parks.


End of the day though you are going to pay for those. I have a place that is somewhat far from campus with no bus route that is consistently rented because it is a student housing area. It makes a larger return because it was cheaper than a place a few blocks off of campus. It just all depends. Take a look right now at anything still available to rent. Note where it is and what it looks like to get an idea of places that may find trouble to rent as we are far past the rental season.
AggiePlaya
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Thanks for the feedback thaed137.

Has anyone owned a unit at the Woodlands, if so how has that worked out? Anyone else with experience?
jmazz
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I own 4 single family properties (three 5/4s and a 4/4) and a 4-plex (all 1/1s). All are in the same general vicinity and biking distance to campus. So far, no vacancy issues (knock on wood). I don't have a unit in The Woodlands although I've looked. It was either earlier this year or late last year one investor let 3 go to foreclosure and they were pretty good buys at the trustee sale. The Barracks is another student development I've looked at but just haven't pulled the trigger on one.

Feel free to holler if you'd like. Jeff @ 12 realty dot com
I'm a local Broker and investor and also co-host the local real estate investor club (big end of year party coming up which will be in Rudder Tower on campus).

http://www.meetup.com/Brazos-Real-Estate-Investors-Club-BRIC/
AggiePlaya
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Thanks Jeff!
JB
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I have a 3/2 on an acre in Wixon Valley/Snook just off 21 and have had no vacancies in 5 years. It has had 3 renters in that time, but it always rents out within a week of going up.
SwissAgg
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JB said:

I have a 3/2 on an acre in Wixon Valley/Snook just off 21 and have had no vacancies in 5 years. It has had 3 renters in that time, but it always rents out within a week of going up.
Do you rent to students or adults mainly?
scrap
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Try to find a duplex in a decent neighborhood. Keep it clean, put in a microwave and washer dryer if your trying to attract students. Your cash flow will be better. I have found that a two bedroom two bath duplex is the easiest to manage with students. I own a 3 bedroom 2 bath duplex 2 miles from campus and it is always rented. However, twice I had 3 students on each side where one of the students doesn't get along and wants to move out. Two roommates are easier to keep happy than three. Either way a duplex cash flow is outstanding and you easily compete with Apt complex or dormitories. Good luck.
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