I am new on the forum, I just found it. it's a great idea. I think I am gonna come often here.
I have a question, I would like to know if some of you guys are investing in small towns or only in big cities and/or their suburbs.
I found a nice building (15 units) in a town of around 24000 people. The numbers look great and after expenses I will be able to enjoy a monthly cash flow of $2000 if I buy it. I am really interested. The only problem I have is that the town lost a little bit more than 2% of its population between 2000 and 2004.
Let me know what you think about investing in small towns.
Small towns are great if as long as they have a decent amount of jobs available to keep the town going. The numbers on this sound good and you should investigate further. The drop in population is concerning - can you find a reason for the decline?
What part of the country is this town in?
Make sure that you are including ALL of the expenses of owning this property before you make the decision. Use the BiggerPockets property analysis tool to help you:
Hi Bryan. Thanks for answering. Yes I am investigating. This town is in PA. Excepted in a few pockets, population in this state has been declining for decades almost everywhere. Philadelphia lost 25% of its population in 50 years and went from 2 to 1.5 millions.
I am personnaly from MD (DC area) and I am looking to buy something outside my state where prices more than doubled in 5 years and where it is almost impossible for small investors to find something with a nice cash flow now.
By the way I visited your site. A lot of interesting articles there. I will check it often.
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