Name: Jeremy Boothe
Holdings: Two townhouses
Closest college: Texas A&M University
The first time Jeremy Boothe bought real estate in a college town it was because of a family emergency.
Three years ago, his grandmother had a bad fall and Boothe bought a home for his parents near hers in Brenham, Texas so they could help with her care.
When Boothe was shopping for a home in Brenham he learned that there was a lively rental market there thanks to a local junior college with more than 1,500 students.
That whet his appetite to invest in a bigger college town. Soon afterward, Boothe, who is an engineer for an offshore driller, decided to buy a townhouse in College Station, a few miles from Texas A&M University.
"The school is not going away," he said. "And you know there are going to be college kids."
College Station is also just a 40-minute drive from Brenham, so his dad could be on call to deal with any emergencies that might arise with the property.
Boothe paid $145,000 for the three-bedroom property and charges $1,200 a month for rent, more than twice his mortgage payment. The remainder he receives is more than enough to cover maintenance costs and the low property taxes in the area and pay him a profit of about $300.
The deal has worked out so well that Boothe plans to buy two more properties by the end of the year.
NEXT: Memphis, Tenn.
