Small town investing

4 Replies

I am currently in small town in southern Illinois with a population less than 4,000.  I have 6 single family rentals.  Anyone else in the same situation?

What are the average rents you are getting and what type of properties are you buying?

Hey @Devin Haertling ! I'm not familiar with Nashville, IL, but I can't check out what rent is going for around there if that helps?

Here is what I currently own and just wondering if its on par with what other people have gotten in small towns.  I know its not a direct correlation taking other things into account but it helps me decide if I should keep investing here.

C grade properties

2 bed 1 bath $600 per month

2 bed 1 bath $600 per month

3 bed 1 bath $700 per month

3 bed 1.5 bath $700 per month

3 bed 1 bath $600 per month

B- grade properties

4 bed 2 bath $700 per month

i get $1000 (below market value) for a 3bed 2 bath  in Oak Harbour ,Wa , with 22,000  population

@Devin Haertling What are the square footages of your properties?  Do you have any vacancies or are the units easy to rent out? If easy to rent out, is this just for you or is the rental market in your town that hot? If its that hot, you could consider raising rents and/or continuing to invest in that market.  If not, maybe its time to look elsewhere.  Are there any big happenings with large employers in or near your town?  Finding out this time of info should help you decide whether to keep investing in your market or look elsewhere to diversify.

Zane

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