With the days of summer soon ending, it means “back to school” for millions across the country.
For college students, this means packing up to move into campus housing, which is often expensive and not necessarily homey. It also means investing dollars into housing that’s not tax-deductible, nor does it generate any equity.
For parents with college-bound students, or even investors looking for their next property, this presents a big opportunity to purchase rental property off-campus.
Buying a property near their school could a great investment when you consider:
- If you have a student of your own, the cost of owning a rental could be cheaper than paying for a dorm or an apartment – especially if they share it with roommates who will pay you rent that you can put towards the mortgage
- If you co-sign on a loan for your student on a rental property, you can help them build solid credit at an early age
- By choosing a property located near a college or university, you’ll have a strong pool of renters who are looking for housing in that area even after your own student moves out
- You could benefit financially with future value appreciation and accrued equity
For parents and investors alike, this opportunity presents the chance to diversify their portfolio as well as offers a large potential tenant pool in an area that is consistently in high demand.
If you’re interested in learning more about this opportunity, contact your local Inlanta Mortgage loan advisor today.
On behalf of Inlanta Mortgage, we want to wish all students a bright and successful school year ahead!