New investors considering a property near Temple University for student rentals need to be careful about zoning regulations. There are certain blocks that have been "carved out" by the city to maintain an owner occupied/family flavor in those neighborhoods.
I became aware of this because I was evaluating a note purchase on North 13th Street. (This would be a great note to buy, with a yield over 20% and a good chance of becoming the owner of a nice property near Temple for perhaps 40 or 50 cents on the dollar. Please call me asap if this interests you.)
But while doing my research, I was told about the zoning issue by several investors I spoke with. Apparently this property is worth low 100's because it is in "Yorktown," but if the zoning restrictions didn't exist, I am told the property would be worth over 200k.
So, if you are looking to invest near Temple University for purposes of student housing, be sure to google something like "Yorktown zoning restrictions Temple student housing" and make sure you are fully informed.
Please contact me if you have any questions about investing in notes, especially the current opportunities for investing in non-performing notes.
If you know anyone who is might wish to cash out of a seller carry-back note, I would be more than happy to discuss some options and make an offer.
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