“Investing in Rental Properties”

“Investing in Rental Properties”

 

 

I have been a real estate investor for many years and that is the case for many of my clients. There are four main areas that I am seeing:

 

1) Ocean and lake property

 

2) Rental properties around colleges

 

3) One to four family homes in areas where rents continue to rise because of location

 

4) Properties that are purchased at a low enough price to get a return on the investment

 

Hi Joe,

How are you? It is that time again, we are ready once again. Want to chat about buying another rental property in RI, And will need a pre-approval for a mortgage.

 

The client that sent me this email has rental properties near a college. She gets crazy rental income from students and the units are all rented. When a unit needs to be renovated they have a company that is in an out in a week and they are ready to go again.

 

This type of rental investment isn’t for everyone, but this gal has it down to a science and will soon get to the point where she can live and retire from her real estate investments. Do you see a time that there won’t be demand for rental housing around colleges?

 

Who else do you know that needs my help?

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 21 commentsJoe Petrowsky • December 07 2015 05:47AM

Comments

Hi Joe.  Rentals around colleges can be a very good investment.  Though, I've seen schools build new dorms and restrict outside housing.  Something that one should be aware of.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 2 years ago

Good morning Joe. For those with the patience and demeanor to deal with the issues, student housing will continue to be strong! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker (Wayne M Martin) over 2 years ago

Hi Joe.  There will always be a demand for good rental housing.  Excellent investment.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) over 2 years ago

Joe, All I can tell you is that my homeowners who have rented for years have locked it down.  The parents have to put up big money to rent from these kids who do so much damage to the homes.  The other 3 areas are prime for sure.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) over 2 years ago

Rentals in college areas can definitely make sense, especially if they are walkable to the school!

 

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, 914-419-0270, kat@thehousekat.com) over 2 years ago

Thanks for the post. I hope investors will read this post.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 2 years ago

Good morning Joe.  Not in our area.  Rentals are hard to come by and if one actually hits the market if you don't have an offer in the first day you just lost the opportunity.  

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) over 2 years ago

Good morning Joe Petrowsky,

Your 4 areas you see as good opportunities for rental properties are excellent choices. There will always be a demand in these sectors to afford you good rental income.

Posted by Dorie Dillard, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) over 2 years ago

Nice to read about someone that does it the right way.  I've known to many "slumlords" in my days.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) over 2 years ago

Hi Joe... for my investor cients, it's getting harder and hard to find that "deal" in the Charlotte area. And we don't have the multi-family, lake, college rental options to start with.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (RE/MAX Executive | Charlotte, NC) over 2 years ago

Rental income is something for people to consider...we sell it...haveb owned it and will be listing some soon.

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce - Short Sale (Keller Williams 414-525-0563) over 2 years ago

I know those who have done very well in this niche, and think there will always be a demand for good rental property.

Posted by Pat Starnes, Brandon, MS, Broker Associate, ABR, 601-278-4513 (Front Gate Real Estate) over 2 years ago

Rental properties require active management if you what your investment to grow, quick repairs and keeping on top of maintenance, open dialog with tenants, enforcing contract and local laws.... not an investment for everyone.

Posted by David Popoff, Realtor®,SRS, Green ~ Fairfield County, Ct (DMK Real Estate ) over 2 years ago

Although this client may have it down to a science, we have seen landlords get "hurt" from destruction of their properties...it's not for everyone.

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) over 2 years ago

Well Joe Petrowsky The smart money is moving into Residential Income properties in a big way. Maybe they know something.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) over 2 years ago

Good morningJoe. I have been there and done that and am glad to have that experience in my past. TY

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) over 2 years ago

Joe I have been running into Borrowers from out of state, mainly NY who want to purchase multi-family properties here in CT.  In fact I have one of these loans tomorrow.  There are some excellent buys out there right now.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 2 years ago

Areas around a college are a great place to invest in rental property. It sounds like your client really knows what she's doing. Thanks for sharing another great story. 

Posted by Debbie Laity, Your Real Estate Resource for Delta County, CO (Cedaredge Land Company) over 2 years ago

College rentals can be very profitable. However, you need to be aware of plans for student housing that may be competitive.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) over 2 years ago

We started buying rental proeprty over 30 years ago and keep telling ourselves it is our retirement.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) over 2 years ago

My sister and her husband did the same thing after their daughter graduated Joe Petrowsky .   They bought a small house while she was in school and let her rent out the extra bedrooms.   After graduation, they have continued to receive a steady flow of investment income.

Posted by DEANNA EARLY - ( NMLS #268590 ), Virginia Mortgage Loan Originator (American National Bank and Trust) over 2 years ago

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