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 properties near campus.
Buying a property near a college or university 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 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 could help them build solid credit at an early age
- After your own student graduates, you’ll continue to have a strong pool of student renters who are looking for housing in that area
- You could benefit financially with future value appreciation and accrued equity
For parents and investors alike, this presents an opportunity to diversify your portfolio, as well as offers a reliable tenant pool in a university neighborhood that traditionally sees high demand.
Learn more about exploring 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!