StudentRentalPro @StudentRentPro
/ 2,000 college kids have called me their landlord + many other names / professional $ borrower / ultra marathoner / luke 12:48 / youtube.com/watch?v=bnIFN3… Joined August 2021-
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If it's move-in day and you walk inside your rental And Moms dropping off their daughters are driving these You're walking into a hostage situation
I bought 5 SFHs with my parents & brother for $1,050,000 in 2006-07 Value went to $800,000 in 2010 Mercifully sold for $1,115,000 in 2020 The buyer (the new version of 2006 me) has never owned student rentals. Prob losing $$$ every month too. But their value is $1,700,000
I told this story at Reconvene 2022 (I think to @PaulinaJones and @mwmoedinger ?) But my 7 year old saw my laptop open and my Twitter profile Her: Student Rental Pro? Is that you? Me: Um (embarrassed) yeah Her: You’re not a pro!!
I told this story at Reconvene 2022 (I think to @PaulinaJones and @mwmoedinger ?) But my 7 year old saw my laptop open and my Twitter profile Her: Student Rental Pro? Is that you? Me: Um (embarrassed) yeah Her: You’re not a pro!!
Great student housing sells two things 1. Fun If kids “feel” like they will have fun at a house, they’ll sign a lease 2. Peace of mind If parents “feel” their kids are in good hands, they will provide the $ Lots of problems if you’re missing either
In my experience: Reducing rents on a mediocre college rental to attract tenants is a bad idea Instead, make the house nicer 1. ~Every kid wants to live in a great place 2. Price sensitivity isn't there w/ parents or loans footing the bill
I’m only 99.9% sure today is Tuesday, but I’m 100% sure I’ve seen more stolen street signs than you
If you’ve ever been skydiving, you remember that moment when you’re at that open door at 14,000 feet and you think “this is either going to be awesome or it’s going to kill me” and that’s what my job is like every day
A truckload of pain & suffering to figure this out Rents in a college town vary wildly based on timing. Like, you can't even imagine. There's no "a 2 BR rents for $1,500" A 2 BR landlord might be renting the exact same apartment for $1,000 or $2,000, depending on when they…
A curated tenant mix is the key to a successful retail environment. Here’s some steps were taking to achieve this at Camp North End. A 🧵 1/10
Anti-Paul Revere: The roommate who moves out first, but tells nobody, so he won't have to move any couches Ocean's Eleven: A Zoom lease Meeting for a three bedroom. 3 kids, 6 Parents, 2 Stepparents. 11 People for 900 square feet. The Bernie Madoff: The roommate (and fraternity…
It pissed me off when landlords own prime real estate right by bars, campus, etc but won’t rent to students Like, come on Dale and Sheila, print off an 82 page lease and ride the lighting
Ppl get upset when I say this, but emotion & peer pressure run ~all decision making in student housing You can disagree w this, and talk about the feature of low utility costs at your (likely vacant) apartment But the social aspects of student housing is "the thing" That's what…
In defense of the idea of banning "Windowless Bedrooms" (which is still a bad idea imo) ... I'd say that a Windowless Bedroom is *very* different between Student Housing and typical Apartment Here are the two examples ⬇️
Who has the best student housing in the country? (Preferably off-campus houses)
I've told this before, but had a 5 BR prob ~10 yrs ago where the guys dropped a weight (barbell?) inside the fiberglass tub They put duct tape over the huge crack and never put in a work order Spoiler: Duct tape doesn't fix everything
I've told this before, but had a 5 BR prob ~10 yrs ago where the guys dropped a weight (barbell?) inside the fiberglass tub They put duct tape over the huge crack and never put in a work order Spoiler: Duct tape doesn't fix everything
Closest thing to passive income on a large college rental Spitballing but - infill lot close to campus - new construction - paint outside light pink - paint the inside white (trim, walls, everything) - largest # of bedrooms allowable by City - smaller living room (150 SF?) -…
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Putting this out there to developers, equity investors & lenders on apartment deals in the Los Angeles area: If you have a screwed up project, we’re happy to take a look, tell you what we think, suggest how you can fix the problems &, if desired, actually step in to fix them.…
@bradford_hardin @StudentRentPro That's not what the parents of the 6 sorority sisters that rented one his houses said.
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@bradford_hardin @StudentRentPro One of the best people on here
@bradford_hardin @StudentRentPro Shh. Don’t ruin his reputation.
@bradford_hardin @StudentRentPro 100% fact. Great guy right there.
Key Man Risk - Speaking w prospect LP re: our Crested Butte fundraise and he asked, "not to be morbid, but what happens if..." 1) GREAT question - every LP *should* ask (few do) Stomp Capital Next Gen Hospitality Fund is named beneficiary on a $20mm life insurance policy.…
@aussieflya @StudentRentPro Even better: Tacos
@bradford_hardin @StudentRentPro Yes indeed! You guys go running?
@housleyd @StudentRentPro 100% You're part of the secret Strava cabal too--don't act like you aren't