Customer Reviews

University Wealth: 21 Success Secrets to Buy & Manage Student Rental Property

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This is my first review but I felt I should take some time and save everyone money that is considering this book. University Wealth is very basic (almost insulting). If you have never owned a house and need a high level review of terms such as "mortgage" or "interest rate" this book may help. If you have never been to college and have no concept of when semisters run, or that students rent houses with there friends, this book may be of help. If this is the FIRST book you have ever read on real estate investing and you need to be reminded to "walk through the neighborhood you want to buy in" or "understand your target market - talk to some students" or "Location, Location, Location (the closer to the school the better) maybe this book is for you.

I am sure the author is great in person and perhaps there is a target market for this book, but if you need such a basic primer on investing in a college town, consider another avenue to riches!

I read Marleen's book in one sitting - on the plane from the US to Australia - after attending a seminar at which Marleen spoke. It was a compelling read, the information being presented in really practical, step-by-step manner. Everybody can follow these steps and make money from student rentals! Marleen knows her niche back to front and inside out and she willingly shares all the secrets to her success in the pages of this book. Marleen explains what to do, from the basics of finding the right area, to the details of the real estate transaction (including the all important financing), the right way to put students in the property, and even how to keep an eye out for special ways to greatly enhance your property's rental potential. And you know the best thing? If you still have any questions after you've read this comprehensive book, then Marleen has included her email address, and welcomes questions. Personal access to the expert!! And the questions are answered promptly - I have sent questions to Marleen by email and had them answered within the day -- fantastic service! Thank you Marleen for giving us a wonderful tool to make money in this lucrative niche.

This information is a good start for someone trying to break into the campus housing market, but certainly don't stop here. I am a real estate agent working in a high-demand campus market so I was hoping for something a little bit more in depth. The chapters are short, a few pages each. If you are new to the campus market, this book may be helpful. Otherwise, look elsewhere.

I read this book as my own kids were approaching college age, in order to learn about alternate housing options. But I quickly became interested in the investment aspect of it as well. Marleen's book IS a wealth of information--a clear, easy-to-understand source of basic information for the novice in real estate investing (like me), and an excellent checklist and step-by-step plan for those ready to take the plunge into the world of buying and managing student rental property.
I especially liked the "Tell Me More" sections at the end of each chapter, in which Marleen gives answers and advice, based on her own experiences and observations, to questions related to the topics covered in each chapter.
Through it all, Marleen's tone is upbeat, supportive, friendly and enthusiastic. She knows her stuff, and she's willing to share her secrets. From first page to last, it felt as though I had Marleen sitting beside me saying, "You can do this! And I'm here to help!"

As a former university lease manager, it was a pleasure to read University Wealth: 21 Success Secrets to Buy and Manage Student Rental Property by Marleen Geyen. It is always beneficial to find an expert when you wish to learn about the intricacies of a business. I believe Ms. Geyen proves her expertise as she guides parents, potential investors, property managers, et al., as she explores the almost always lucrative, but also potentially troubling activity of renting to university students.

Ms. Geyen came into this business through a personal connection. She had children attending a university and she needed to ensure they had a safe environment as well as one at a reasonable cost. In fact, there are many parents who find that purchasing a facility to provide a home base for their children while attending a university is the most cost effective. I know of a family that purchased one home that was used for over ten years while their children of various ages attended. If there were time periods in between their children when the building would be vacant, then they rented to other students during that time period. It certainly proved to be a sound and profitable investment.

So whether your interest is just to acquire property for your own children's use or whether you, too, find that you enjoy working with students and handling student rental property, you will find that Geyen has "been there, done that" and is quite willing to share her knowledge and experience. She moves from considering space, through the financial issues, possible repairs/renovation, into the actual leases with students, and then on to expanding the process into a business, if desired.

I think the one most important thing I personally gained from her book was that an individual considering this business should be able and happily enjoy working with students. Through various personal stories, she shows that her taking a personal interest in the process of renting, as well as the students to whom she is renting, has saved her from many of the problems that a "slumlord" is prone to have. Geyen shows that she cares about both the students and her property. She sets rules, but she also has stopped to consider the personal interests of her renters and has worked out in advance compromises that she is willing to negotiate. She treats students as responsible individuals and they in turn treat her property with responsibility and respect.

In fact, Ms. Geyen's excellent personal relations expertise shines through as she discusses all of her relationships within the business. Her philosophy is obviously one that works and those reading her book should ensure that they realize that interpersonal relationships is a basic part of her success, quite aside from the actual specialized knowledge she provides.

As is often the case in a self-help type of book, Ms. Geyen uses the concept that readers may have no or little experience. Therefore, she provides step-by-step information. I think one of the interesting little additions to each step is that she includes a couple of questions at the end, undoubtedly received from other individuals, and takes the opportunity to highlight specific problem areas.

The overall philosophy Ms. Geyen presents is that there are basic points in the process that will require specialized expertise--and to plan to choose and use expert advisors. Be prepared for it, she suggests...and be prepared for the entire process, before you begin. She suggests that having the money available, or how you are going to fund a building, be known before you even start looking. In that way, you will be prepared to act quickly when the need arises.

With my background, I found only one new secret--the potential use of an IRA for purchase of student housing as an investment! It's difficult, she says, but possible. I think that idea alone may be well worth the purchase price for many parents. While the other secrets might not be actual secrets to those who have been involved in real estate investments, nevertheless, I found Geyen's presentation enlightening, interesting, and a handy resource guide to double check yourself before proceeding through the multiple and sometimes difficult steps in acquiring property, especially for rental purposes.

The sample lease agreement, inspection sheets, and move-out inspection sheets alone are worth your money if this is new to you. I think one interesting point I would want to highlight in studying this book is that Ms. Geyen has obviously already gained and learned from her mistakes. She has taken steps to ensure that problem areas do not happen to her again, by developing what seem to be simple processes that she now shares with readers.

Speaking from experience, do not be fooled and assume this book was not written based upon extensive experience and knowledge...her style of writing allows you to learn quickly because she's made it so simple...but by developing her secrets, they are clearly, in my opinion, based upon having actually had to work through problems that arose as she started in the business. So, why reinvent the wheel? This book is well worth your time, either in your first purchase for your own children, or for getting into a new and interesting investment area...lucrative, if you learn the "secrets."

This book provides the basics you need to create passive income from University property. This particular market niche can be very lucrative. It covers the necessary information from start to finish: from how to evaluate the numbers before you purchase, how to afford the purchase through to tips on property management. It is a must read for this market segment.

Marleen's book is extremely well written and easy to understand. It is very organized and easy to follow. Each chapter includes questions and answers that are very helpful. I recommend this book!

I bought a College rental property after hearing Marleen's comments on College rental housing and I can attest that hear strategies work and this is a great way to build passive income and earn higher returns on your investment than you can in non-college areas. I would recommend this book to anyone who is looking for their niche in real estate investing.