College towns are obvious hot spots for investors, and that is just another of the reasons that houses in Idaho, especially near Boise, are very sought after. The market for investment properties is there; a local real estate investor said he received over a hundred calls in less than 48 hours on a rental that he doesn't see as being anything special. Rentals can be great money makers, but for those looking for a little less risk, buying rental houses in Idaho near colleges can be as good of an idea as any. Here's why:
It makes good sense to invest in houses in Idaho where many people want to live and Boise State has gone from a small local college to a growing, respected university, very popular for their consistent football success. That night for the ages when B.S.U. won the Fiesta Bowl and beat Oklahoma, not only changed Boise State forever, it changed Boise. Boise reaps the rewards of state-of-the-art buildings that pop up yearly at the university and increased enrollment and college entry standards. While you can make money with investment houses in Idaho near any college, Boise State is where you will have the most demand for your property, allowing you to make the most money on rent.
Why a College Town?
One of the most important things a real estate investor needs is to have a location that allows them to almost never have a vacancy. Because vacancies are so bad for investors, having a huge pool of renters at the college is very advantageous. Demand also brings up the price you can rent the property for. Oftentimes there are three or more renters that share the house, so they can afford a higher priced rental as the rent is split multiple ways. You might want to find rental homes with a unique look, or different number of bedrooms to find your niche, but you likely will have success renting whatever you buy close to Boise State. No matter how many new dorms or apartments that universities build, you have on your side the fact that no one wants to live in campus housing, they all want to live in a house with their friends. You will want to be careful in who you rent to, as college students can cause a host of problems including wear and tear on the property and parties. Likely the investor with houses in Idaho near universities will need to be a bit more hands on than those renting to older people. You might even be able to hire a property management company to do the dirty work and still make money on your investment.
Today is the Right Time
Coming out of a down time in real estate and into a strong market recovery, you have some special opportunities. Interest rates are at amazingly low levels and housing prices are still affordable, making this a very good time to invest. You will want to have enough capital that you can afford to make the payments, even if rent doesn't come in for a while. You will also need to set up a separate fund for repairs and maintenance. By buying now when prices are relatively low, you will have the best chance for success and should be able to make some good money on appreciation, in addition to your monthly rent. You can, with careful decision making, and the help of a great Hughes Group real estate agent, make more on real estate than any other type of investment. Start by searching all Boise homes instantly by clicking here!