Student Housing has been a growing asset class throughout the United States,in particular Indiana.We believe there is significant growth potential in the Ball State student housing market, specifically for houses asopposed to apartments. Ball State University is a unique campus that offers a very concise campus layoutwith various options for housing. Most recently Ball State has undergone extensive rehab on facilities as wellas expansion. A report issued by the National Center of Higher Education Management Systems(NCHEMS) provided evidence that Ball State advanced students further with fewer resources; meaning it isone of the most affordable colleges to attend in Indiana. Both members of the company, Justin Collins andRyan Kelly, are graduates from Ball State University. Given our experience with real estate and in depthknowledge of this particular market, we feel very strongly there is a great opportunity for significant growth instudent rental housing. We plan to use our knowledge of the Ball State campus, expertise inaccounting/finance, and drive to succeed to capitalize on the student rental housing market.
Once established, we plan to expand into other markets as opportunities arise. We will only enter markets inwhich we have performed our due diligence and believe there is potential for significant growth. Currentlywe are performing our due diligence on the Fountain Square rental market located in Indianapolis, IN.
Our objective is to create a portfolio of rental houses that have high demand due to their prime location andsuperior quality. We plan to implement a strategy of purchasing homes at good value, and subsequentlyrehabbing them to maximize potential bedrooms. Our long-term goal is to have 30 homes in our portfolio inthe next 20 years, creating an estimated value of $4,200,000 by 2035. We plan to take advantage ofrelationships built within the community and capitalize on our knowledge of the market demands.
Our mission is to create high quality student housing homes that are in the high demand locations.
Our keys to success will be flexibility within our model that corresponds with market changes. Even with the current rents at Ball State’s campus, there is significant opportunity for growth. We believe there is potential for increased rents in upcoming years to be comparable with other college campuses in Indiana.