One of the most crucial traits that any successful real estate investor must possess is the ability to spot a good opportunity. And in a market as volatile as real estate is these days; that’s not always easy. Keeping your hand on the pulse of the latest real estate development trends is a complicated thing. But there is one strategy that is always consistent in its success: becoming a student landlord.
Obviously, most landlords don’t feel comfortable renting to people who have probably never lived by themselvesin their lives; which is certainly correct. But despite such legitimate concerns, if you invest in a university-adjacent property, you could actually net quite a tidy profit. On average, a house that’s near a college campus can give you profits almost 40% higher than the same house in a different neighborhood. That’s precisely why we’ve prepared a guide for you right here!
The Benefits of Investing in Student Housing
Let’s face it – millions of brand-new students enroll in universities each year, all over the country. That’s why college towns are actually one of the most certain real estate investments when it comes to residential rental properties. You’ll never lack demand, as campuses will provide a source of new tenantswhenever you need them. And all of that competition will drive rents higher, which is great for property owners.
So, if you’re looking to shore up your retirement strategy and expand your portfolio as a real estate investor, this is a great opportunity for all that and some neat passive income that doesn’t require much input past the initial investment. Andif you’re an investor who can’t boast with a huge marketing budget, all the better! Being a student landlord means your tenants will basically find you.
This is a good idea for people who want to sell their home in a college area and move somewhere else as well – a great way to enter the real estate game! Just calculate your moving expenses in advance, and use the remainder of your disposable income to spruce up the place. You’ll soon have college tenants knocking on your door. And then, instead of selling your home, you’ll have a constant influx of steady profit.
Rental Demand
So, just how good is the demand when it comes to rentals in college towns? The official statistics show that you definitely won’t be wrong in renting out student housing, from that perspective. Two years ago, The College Board published a study dealing with the average life of an undergraduate student. And one of the interesting pieces of information is the fact that almost 45% of students don’t live on campus. Obviously, these numbers slightly differ between private and public universities, with more people living on campus in private universities.
So, before you decide to sell your propertyfor a tidy profit, consider renting it out long-term to college students, gaining a respectable source of steady income in the process. And if you’re scared that this trend of high demand in college areas will change over time, you can rest easy! Earlier studies show that this is a trend that has been one of the most consistent ones in the entire real estate industry, even throughout the mortgage crisis of 2008!
Sure, rental demand in college towns sees tiny fluctuations throughout the academic year, but college towns still produce a consistent stream of housing demand; not just from students, but from the accompanying staff and professors.This makes such areas extremely attractive for mid-range investors.
High Rental Yield
There are quite a few reasons why real estate investors are attracted to such a rental niche, but the main one is simply that it pays consistently. With the constant high demand in mind, it’s no wonder that college rental properties don’t have problems generating quite a steady cash flow for their owners, at least compared to traditional rental properties. A lot of students simply choose to search for housing off-campus, as living on campus can prove to be even more costly than renting a home.
You can predict a sizable return on investment compared to traditional rental investments! /alt: A graph representing rental finances.
As a study from relevant industry sources shows, real estate owners who decide to invest their resourcesin a student housing property can actually hope for a return on investment that’s bigger than 10%. To give you some perspective on that – many real estate owners and investors believe that a return on investment that’s higher than 5% is a pretty sweet deal.
Tenant Expectations
One of the toughest things with residential rental properties is managing tenant expectations. But when your tenants are students, that isn’t too big of an issue. Remember – most of these people haven’t lived by themselves anywhere before, or they have just lived in a dorm room. So, especially since these are mostly young people, they don’t expect the condition of the property to be as pristine as a suburban family that’s renting out the place might. You can save quite a bit of money on the property investment alone. Trust us, the quality of the flooring and the perfection of the paint job isn’t something you’ll have to think about when you’re renting out to students.
Tenant expectations are much lower when they are students! /alt: A student reading a book in a library.
Conclusion
As you can conclude, renting to students is not such a daunting proposition as it first seems. Sure, you need to be prepared to deal with younger tenants, but the constantly top-tier demand and solid return on investment you can achieve is definitely a tantalizing idea.
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Cool, calm and sophisticated with a youthful edge, this functional home is enveloped in light and comfort. The floor plan encompasses three spacious bedrooms with plenty of room for study, sleep and storage, two bathrooms. A sleek and stylish kitchen with crisp white cabinets that flows through to the dining room. The master bedroom, complete with walk-in closet. The large back yard would be great for swing set, volley ball net, trampoline! For more info, click here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
This is one open house you don’t wanna miss! Join us at 712 Stuart Street on Saturday 8/31 from 1:00-4:00 PM as we showoff this gorgeous home in Historic Downtown Fredericksburg! (Click the address below for more pictures and information about the property)
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Beautiful lake front home available to rent for $2,000 a month! Spacious home with 3 bedrooms with the master on main level. Beautiful Florida room with an amazing view. A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550 acre main lake and a 35 acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteering your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $100,000 to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, as well as weekenders. But don’t take my word for it, please come see for yourself! I will gladly give you a tour of Lake of the Woods by boat and by car so that you may experience why I love Lake of the Woods! For more info, click here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Have you been wanting to check out some of the available rental homes in Lake of the Woods? Nows your chance! On Saturday, August 31st we are happy to showing off two of the most beautiful rental properties that are available in the area. The first Open House will be at 128 Harrison Circle from 11:00-12:30 PM, and the second will be at 1351 Lakeview Parkway from 1:00-2:30 PM. We look forwarding to seeing you there! (Click the address below for more pictures and information about the properties)
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Please join the Civic Club on Wednesday,
September 11, at 7pm in the Clubhouse Great Hall, as Deputy Sheriff/TRIAD
Coordinator Ron Kesner will be providing important information to us. He will present
the TRIAD programs administered by the Sheriff’s Office and its importance to
the safety of community as a whole and to its senior population. Deputy Kesner coordinates
senior citizen safety programs between the Sheriff’s Office, the State Attorney
Generals’ office and senior citizens groups and/or senior citizen services
organizations within the county of Orange. The purpose is to promote
senior citizen safety and help eliminate senior citizen victimization.
Deputy
Kesner is a native Virginian, having been born in Covington. He
possesses 37 years of continuous law enforcement service. He retired from
the Albemarle County Police Department in 2009 as a Master Police Officer,
Firearms Instructor, Driving Instructor, Bike Patrol Officer, Fatal Accident
Reconstructionist, Special Operations Group Member and Academy
Instructor. He also had worked for the Louisa County Sheriff’s Office for
10 years and operated the Marine Unit Patrol Boat on Lake Anna as one of my
duties. Deputy Kesner joined the Orange Co. Sheriff’s Office in April of
2019 to fill the position of TRIAD Coordinator.
We look forward to seeing you at the Clubhouse Great Hall on September 11th at 7pm!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
If you’re looking for expansive rooms with new paint and flooring, this is the one! You’ll find plenty of storage space for all of your water sport and boating equipment, in addition to fabulous seasonal lake views.
A private gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550 acre main lake and a 35 acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteering your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $100,000 to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, as well as weekenders. But don’t take my word for it, please come see for yourself! I will gladly give you a tour of Lake of the Woods by boat and by car so that you may experience why I love Lake of the Woods! For more info, click here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
This one-of-a-kind, spectacular property is looking for some love to become the gem it was meant to be! Located near the front gate in amenity-rich Lake of the Woods close to Clubhouse/Fitness Center/Pool and Beach. Must see! For more info, click here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Do you want to see what is sure to be a show to remember? Then you’ll be happy to hear that the Lake of the Woods Players are proud to be showcasing Andrew Lloyd Webber’s first musical: Joseph and The Amazing Technicolor Dreamcoat! Based on the Biblical story of Joseph, son of Jacob, and his coat of many colors; this family friendly show will definitely be one for the ages! The first Showing will be on October 18th at the Lake of the Woods Community Center. Tickets will go on sale Sept. 9th, and can be purchased through lowplayers.org with a special price of $15 for children under 12!
Whether you’re looking for homes for
sale in Lake of the Woods VA or Waterfront
property in Virginia we are your Real Estate Advisors for Stafford,
Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater
Virginia. Thinking of selling? In any market condition, “what is my
home worth?” is the #1 question asked by home owners. If you wish to sell
your home, it needs to be sold for top dollar and in a timely
manner. Pricing your home accurately, Pat will partner with you to make
the selling process so much easier. Get started today by calling us at (540)
388-2541 or contact Pat Licata.
To see available Lake of the Woods
properties, please visit our site.
Selling your home can turn into a genuinely lengthy process
if you have no information on how to do it properly. Making a detailed plan and
having an experienced professional agent by your side can significantly
decrease the time your home spends on the market. If you are willing to make an
effort, invest your time and some financial means, it will be easier to gain
competitive advantage and make your property more appealing than others. Thus,
here are some tips on how to interest your prospective buyers and succeed in
selling your home faster.
Improving curb appeal is the starting point
The first impression matters greatly when buying a property. Interestingly, sellers very often tend to forget this fact, so they focus intently on the inside of their homes. However, if you aim at selling your home faster, improving curb appeal is the most reasonable starting point. Firstly, pay attention to your lawn. Keep it neatly mown at all times since you never know when the potential buyers can come by. Also, it is necessary to trim trees and bushes regularly and to maintain your garden well enough.
Figure 2 Improving curb appeal is the most reasonable starting point when aiming at selling your home faster. Alt.tag: A beautifully decorated home entrance that can help when aiming at selling your home faster.
Pay special attention to the entrance. If it is necessary to
add a fresh coat of paint, do not hesitate to do it. A new house number and a
matching mailbox can easily catch everybody’s eye. Ideally, repainting your
front door will maximize the positive effect on whoever comes to tour your
home. Remember, what you want to achieve is making prospective buyers believe
your home is the right choice for them.
Decluttering is critical for selling your home faster
Clutter at your home threatens to prolong the whole process
or even reduce the price considerably. Getting informed on some key decluttering
tips can help you create an intimate and yet neutral and cozy atmosphere
that will enable your prospective buyers to envision their life and family in
this place. Furthermore, do not forget depersonalization. If a neutral territory is what you want to
achieve it is inevitable to remove all your family photos, children’s artwork, souvenirs
from various travels and so on.
Since it is essential
for potential buyers to move freely around your home, getting rid of bulky
furniture pieces is a must. Ideally, you can look for
an affordable unit to store your belongings and these furniture items
safely. Then, you can rearrange the rest of your furniture and maximize the
space. This will be highly appreciated and valued.
Make your home shine
You need to raise your cleanliness standards to the highest level until selling your home comes to its end. Paying special attention to all hidden areas is of utmost importance because your home needs to bear the scrutiny of various potential buyers. While it may be exhausting and quite challenging to keep your home in pristine shape for long, it is needed given the circumstances. Otherwise, you risk making one of the biggest mistakes when selling a home.
Figure 3 Make your home shine and prospective buyers will love it. Alt.tag: Cleaning brushes in various colors.
Natural light is a great benefit
Natural light is everybody’s favorite. It brings freshness,
calmness, and warmth to your space, so it has to be ample in order to attract
attention. Try your best to make your home as naturally lit as possible. Should
you find any problems with meeting this requirement, placing decorative lamps
around your home might help.
Selling your home faster requires making it available to prospective buyers
It is vital to make your home available to potential buyers.
Unfortunately, this most often means allowing them to tour your home whenever
it fits their schedule, even at weekends. This is a slight inconvenience you
will have to bear if you expect to succeed in selling your home faster. Buyers
themselves also feel nervous about finding the property that meets their criteria
once they realize that buying
real estate is a good investment.
Be realistic about the price
Making a decision about the price when selling your home is
a crucial task in the process. With the help of the internet, both sellers and
buyers can obtain information on the subject quite easily. Hence, it is
essential to be utterly realistic when setting the price. Defining the price
either too high or too low is very risky. Should you have any doubts,
consulting professionals is advisable.
If you, however, decide to set the price yourself, there is another step you need to define. Having a timetable for lowering the price can prevent your home from being on the market for too long. Instead, a reduced price after some time may incentivize those buyers who were having second thoughts. Eventually, selling your home faster becomes achievable.
Figure 4 Be realistic when setting the price for your home. Alt.tag: Three different piles of coins and a small wooden model house.
Taking some photos can help in selling your home faster
A great majority of prospective buyers start their search
for a perfect home online. Most of them prefer seeing photos of the houses
listed in order to take them into consideration. Thus, making high-quality
photos of your home can be very beneficial. If they emphasize all the appealing
and distinctive features, they will easily attract buyers in a short period of
time. Make sure you photograph both the inside and outside of your property. If
you are willing to invest in hiring a professional photographer, you can expect
favorable results very soon.
Feel free to spread the word
Although collaboration with your real estate agent is
compulsory, you can also contribute to selling your home faster. Feel free to
spread the word. Talk to your neighbors, colleagues, and friends. Use the
advantages of social networks and share your listing on various social media.
Understandably, the more people you inform the bigger the chance to find the
buyer soon.
Time matters
Among other factors, the time you list your home for sale determines how long it will stay on the market as well. When aiming at selling your home faster, it is, generally, advisable to list it in spring or fall. Reasons underlying this suggestion are understandable. The weather in spring is pleasant and people are willing to tour houses more often. The school is coming to its end, so moving will not cause any problems to families with children either. On the other hand, in the fall, the weather is still warm. People have come from their vacations and now they are ready to search for the property that meets their strict criteria. The school is about to begin, so prospective buyers have time to make the final choice and conduct their relocation. Use your chance and make selling your home faster possible.
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
