Student Housing - Ryerson University

[mattrussell]

Hi all,

Question to the masses. My brother (17) will be attending Ryerson university next September. Now, knowing the benefits/opportunities that can arise via student rentals (particularly when spouse/family is renting), would it make any sense at all to acquire a condo downtown T.O? Knowing this isn`t a top rated REIN town, and prices are already astronomical, it would be much better to put the $1000/mth towards an investment rather than throw it out in rent. Is there any opportunity in this already expensive area. I`d be looking at a 2+1, or maybe even a 1+1, oh heck, maybe even a studio apt. He could then rent to a friend.

Any advice would be more than appreciated.

Kind Regards,

Matt Russell

 

[mattrussell]

Really, no one?



QUOTE (mattrussell @ Oct 26 2009, 12:52 PM) Hi all,

Question to the masses. My brother (17) will be attending Ryerson university next September. Now, knowing the benefits/opportunities that can arise via student rentals (particularly when spouse/family is renting), would it make any sense at all to acquire a condo downtown T.O? Knowing this isn`t a top rated REIN town, and prices are already astronomical, it would be much better to put the $1000/mth towards an investment rather than throw it out in rent. Is there any opportunity in this already expensive area. I`d be looking at a 2+1, or maybe even a 1+1, oh heck, maybe even a studio apt. He could then rent to a friend.

Any advice would be more than appreciated.

Kind Regards,

Matt Russell

 

[housingrental]

I`m not an expert on that area but from what I`ve seen the rent to price is too low
If your brother is assumedly going to want to sell the condo in three years I wouldn`t do it
You need to bet on significant appreciation in the next few years or your likely lose money from transaction costs (and possibly from operations)