As if we couldn’t find any more good news about being a real estate investor in Fort Collins, Colorado, the Coloradoan has reported that the some of the Aggie Village apartments on Lake are going to be torn down to make way for more dorms. At first you might think that’s a negative for rental rates, but consider this: Most freshman are already required to live in the dorms, so we aren’t losing any potential tenants there. But, once those freshman become sophmores and move out in to the Fort Collins community, how many investment properties will you have ready for them? Rents have gone up steadily over the last 5 years, and vacancy is at an all time low. If Colorado State University attains it’s goal of a 35,000 student population it will be nothing but good news for you real estate investors.
Call me if you have any questions about what CSU is planning, or if you would like to be informed of investment properties as they hit the market. Have a great week and congratulations to all of the CSU students graduating this week!