Identifying good candidate towns for leasing options
Hello,
Although very much a greenhorn, I've been working diligently to not only find my portfolio path, but identifying my niche/passion.
I've decided down a path of Leasing Options (rent-to-own) for my own passions. I watched Podcast 185 (How "Rent-to-Own" can increase cash flow and maximize equity with Bill Powers). It was crazy listening to this conversation, because everything he said resonated with some of the philosophies I've been exploring.
While I'm very interested in the concept of "revitalizing" home ownerships in smaller towns, we still have to look at it from an investment standpoint is the cashflow, processes, etc. This for myself is honestly learning over time, I can work on that.
Now, obviously I'd go to my hometown and do this in a heartbeat, but I simply don't think there's enough industry to support it at the moment. From the perspective of you more experienced REIs out there, is there some method or resource you use for towns that should expect growth? I want to target those blue collar towns (B-/C Neighborhoods) , but trying to find good resources on finding industries planning to move, potential changes, etc. Do you just setup news alerts for local financial changes, etc? What are you methods for choosing a town and more specifically in my case, midwest suburbs or semi-rural towns?
Thanks!