Home Buying in Baton Rouge>Question Details

Dena, Other/Just Looking in

My son is a student at LSU and has another 3 years to go. I am currently paying $750.00 a month rent.

Asked by Dena, Mon Feb 18, 2008

Should I buy rental propery?

Help the community by answering this question:

Answers

12
Dena,
I have a 3 bedroom house for sale three blocks north of LSU for $94,900 that is large enough to rent rooms to other students. Call 337 661-9877.
Emily Wagner
0 votes Thank Flag Link Tue May 4, 2010
Dena,

I have a property listed at 16733 Wenwood Drive, Baton Rouge, LA 70817 for 258,000, 3 bedrooms, 2 1/2 baths. It is wise to invest in property while you have a student at LSU rather than renting. The investment will bring a profit in three years, especially in our Area 43, the fastest growing in Baton Rouge. We have Long Farm TND PUD planned nearby on Jefferson Hwy., and our easy access to the Interstate, Highland, Airline, and Antioch makes this a very desirable area. We travel to LSU campus via Highland or Interstate with ease and have the capability to return to retreat in the evenings and weekends. Our neighborhood is settled, quiet, comfortable, affordable and secure.

Call 225-278-7872 to set an appointment for a showing.

Truly,
Linda Karam
Keller Williams Red Stick Partners
225-278-7872
"Inspiring Vision and Growth Through Action and Achieving Results"
0 votes Thank Flag Link Mon Mar 15, 2010
I have a nice three bedroom home off College Drive that is currently undergoing renovations and redecorating. Work should be completed by the end of the month of February.

Easy access to LSU, shopping, restaurants and more.

Call me if you would like to see this property. Listed price is $130,000.

Marti Didier 225-939-0460
0 votes Thank Flag Link Fri Feb 19, 2010
I'm a real estate broker specializing in the LSU area, and anytime I have a client come by who has a child going to LSU for an extended period of time, I always recommend buying real estate. My article uses the dorm scenario and gives an example of the savings you'd save http://www.englerealestate.com/LSU-dorm-vs-condo-purchase.htm
0 votes Thank Flag Link Thu Feb 18, 2010
Many parents purchase a condo in the LSU area and sell it when there children leave school. We have some gated properties near campus; some located on the bus line. Depending upon the price range, I can show you newly constructed, beautiful properties, with lakes surrounding the property. If you want something a little less expensive, there are properties located on Burbank, Brightside, etc.

Email me and I will be happy to email you properties that give the specifics, such as price, number of bedrooms, bathrooms, etc.

I will be happy to assist you with locating the right property for you.

Thanks!

Marti
martididier@cox.net
0 votes Thank Flag Link Tue Feb 9, 2010
If you are in the position to purchase investment property, I strongly urge you to consider purchasing property in the Baton Rouge area. LSU is experiencing many new exciting additions concerning living options AND the local surrounding area is continuing to increase in value higher than the national average. (see CNNmoney.com - your local real estate forecast)

Although monthly you might not save money, after you child has graduated from LSU and you sell the property, you will likely make back the college tuition!!! Also, it would make a great rental property for years to come!

Please visit our website for questions concerning mortgage options. We would love to help you determine if this the right move for you!
Web Reference: http://www.lalending.net
0 votes Thank Flag Link Mon May 12, 2008
You should buy! I graduated from LSU in 2007. My parents purchased a condo off corporate blvd for me in 2006. It was a great tax benefit for my father and worked out well for me too! my sister moved in after I moved out of town and she'll be in school for about three more years too!
Buy!
Stacey Boudreaux is an agent in Baton Rouge and would be glad to assit you.
225-281-0912-cell email-sboudreaux@erastirling.com or check on-line http://www.stirlingprop.com
We both work for ERA Stirling Properties, only I'm located in Lafayette,LA.
contact me if you have any further questions- happy to help! Good luck!!
Erin Soderberg- esoderberg@erastirling.com
0 votes Thank Flag Link Tue Mar 11, 2008
Go to my website and view the LSU Living- Buy vs. Rent....this should help you way the pros and cons.
Web Reference: http://www.MattNoel.com
0 votes Thank Flag Link Tue Mar 11, 2008
It all depends on where you buy. The Burbank Dr corridor seems to be very popular with students. My daughter attends LSU and she says that commuting to school via Burbank has less traffic. I have also seen the pruces of condos in theis area rise steadily. I have some coming on the market and I would be happy to show you the trends to help you make a decision.
0 votes Thank Flag Link Mon Mar 3, 2008
$750.00/month in rent is a lot by local standards. On campus housing costs $2,000 - $2,200 or so per semester. So, you're definitely not getting a "good deal" paying $750/month if you are trying to find basic housing for your child/student.

There are a lot of places available for rent or purchase in the LSU area. If you would like to purchase a home there are many options that I would be happy to show you. You could expect to rent a room for $400 or so per month. Your "competition" is on-campus housing. And, while the options on campus aren't great, they are convenient. If you live on campus you don't have to have a car and, you can get up 30 - 40 minutes later each morning and get to class on time. I find this is a big deal to college students.

Here's another thing to keep in mind ... LSU intends to adopt a mandatory on-campus living requirement for freshmen beginning in 2009 - 2010. Not this fall, but the next fall, all freshmen will be required to live in the dorms unless they live in the area. My understanding is that this is not "cast in stone" but it is the University's intent. So, that means that the Return on Investment period for most undergraduates is 3 years and not 4. And, while the scenarios of people paying off their school loans from their capital gains sounds attractive you have to ask yourself "is this likely to happen.?" There are also transaction costs, costs of ownership, and costs of management in finding and retaining renters for the property.

This is an important investment decision that I'd be happy to talk to you about. Call me. I've lived in the area for 15 years and have a child attending LSU in the fall.
Web Reference: http://www.helenekurtz.com
0 votes Thank Flag Link Mon Feb 18, 2008
ABSOLUTELY!! My step father bought a small house in Bloomington Indiana when my step sister was in school there. My step sis lived in the house and had 2-3 roommates. The rent was enough to cover the mortage and my sister made sure that the house was well cared for.

At the end of 4 years the house was sold and more than 1/2 of the student loan debt was erased.

If your sure that your son will stay in school there, I say go for it! Good luck!
Web Reference: http://www.Kathy-Carter.com
0 votes Thank Flag Link Mon Feb 18, 2008
BUY, BUY, BUY!!!!!!

We have some condo's that are reasonably priced...and having gone to LSU myself, I saw the opportunity, but my parents could not afford to buy me any real estate....it was hard enough with the tuition being from out of state at the time.

For a few hundred dollars more, he could own a property, and when he graduates, sell or rent and have a financial foundation for life. He can take advantage of bond money, and still get a decent interest rate.

Email me at ian70119@yahoo.com for more details about the condo's and also financing options...there are several locally based finance companies we use including Regions Mortgage, Hancock Bank and more.
Web Reference: http://iansellsnola.com
0 votes Thank Flag Link Mon Feb 18, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer