Buying in Non Warzone Cheap properties

[Bob Baldwin]

I am considering buying and investing in Northern Maine ,North of Bangor Howland , Milo , Brownville area . Some people do in fact commute 50 + miles to Bangor . Most of the towns areunder 25,000 in population with many houses listed at 40-60 K 2-3 BR. Definately NOT a warzone but the economy is quite Bad . Lots of seniors on fixed incomes . yet there it is also considered to be a big recreational area Hunting , Fishing , Snowmobiling etc; 

I will actually be buying some acreage and building a  house in a very rural setting . on average land is about 5K per acre if Power is available . About 1/2 if it has to be brought in . Close to water but NOT on it . Don't mind traveling to enjoy my outdoor activities .

Your thoughts please on Potential investment Please ?

Planning on Building 4 Br 3 bath 1800-20000 SQ Ft Ranch house for when family andfriends come to visit . Looking at total cost 185-200 K Prefer to pay cash !! I KNOW !! I KNOW !!! you can invest a lot with the 200K . Satisfied with my investments up to this point . Though it would be hard to turn down a great deal if one were to be found .  Net Net income would still be in the 100K before any properties are liquidated . As I said I started my investments a long time ago which the kids will end up with . At what point do you say Enough is Enough and pursue your retirement Dreams ?

[Steve Vaughan]

Half of my portfolio is in a rural little town.  Not much appreciation but the cash-flow has been good.  Mostly my vacancies are filled from tenants seeking value from the neighboring expensive town 30 miles away.  Without it being an overflow, I would be swimming in vacancy and regretting my investment decision most likely.  

Will you have seasonal demand or overflow from a neighboring, more expensive market @Bob Baldwin?