Buying Multifamily in a Shrinking Town

[Brian Barnes]

Hello, all!

Longtime podcast listener, first time poster. Looking forward to hearing your insight into my (potentially) first real estate investment.

I have decent capital, and I am currently interested in buying an small, 8-unit apartment building. The numbers are great, from everything I can see. It's above the 1% rule, and I would get it to even further above. It's cash flowing nicely. It's in a near zero crime area. There's just one catch: It's in a shrinking town in a shrinking area (population wise). However, it is about 15 minutes outside of a state capital, which makes me think the area must stabilize and reverse eventually.

I am NOT looking to make a quick buck. My focus is buy and hold for cash flow. I am well aware of the conventional wisdom of buying in a growing area, but please let me know what you all think.

[Bonnie Low]

@Brian Barnes a good Realtor should be able to help you with this information, too. Good luck to you!