Home Buying in Menomonie>Question Details

Jim, Home Buyer in Menomonie, WI

I am thinking about investing in a rental property in Menomonie near UW-Stout. What is the market like for student housing?

Asked by Jim, Menomonie, WI Fri Mar 19, 2010

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5
Jim,
I am a former Stout student that lived off campus. The rental market near the campus is very strong. If you choose a good location and treat your tenats well you will have a great investment. I really think you can buy with confidence as long as the location is right. If you have any questions or want to look at something let me know.
-Jeff Hazuga
0 votes Thank Flag Link Sat Mar 26, 2011
Jim,
It seems as though there is never enough housing available for students near campus. Especially clean, safe, and affordable housing. If you have a property that fits this category, you should never have to worry about keeping it rented. A general rule of thumb when buying any rental or commercial property is that the monthly income should be able to equal about 1% of the purchase price. So a $100,000 property would need to bring in around $1000 a month for it to be a good investment. Of course there are variables in this equation but it is a good start. So if you get into the right property in this area, you should be able to make a long term investment work well for you. Good luck.
Kevin
0 votes Thank Flag Link Tue Mar 23, 2010
I have several friends that own student rentals and it seems to be working for them in Menomonie.
I would also recommend holding them long term.
I have some names of Management companies that would manage them for you if you are not
from the area. Let me know if I can help you!
Debbie.Bertelson@Century21.com or 320-290-6681.
or visit my website: http://www.JustListedMNhomes.com & click on WI Listings or MN Listings that
meet your criteria. I am licensed in both WI & MN and have a home in Menomonie.
0 votes Thank Flag Link Mon Mar 22, 2010
Students are just another breed of tenant. Investing for student rentals can be rewarding but it's important that you live close enough to keep an eye on things... and handle repairs easily. Students are a different breed, so you need to handle them as such. If you do it properly, you can do well. Know what you're getting into before you take the leap. Talk to other landlords in town to learn what works and what to watch out for. Good Luck!
0 votes Thank Flag Link Fri Mar 19, 2010
There are several rentals available for purchase. I would suggest that it be long term instead of short term investing in student rentals.
0 votes Thank Flag Link Fri Mar 19, 2010
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