US Cities Paying People to Move - Investment Opportunities?

Question

Hi,

I’m a new real estate investor. I just bought my first condo in LA. I saw some articles online about some cities in the US paying people up to 15K+ to move there. Seems like a great way to buy a rental property in a an up-and-coming area. I realize that some states give different incentives like tax write offs not lite cash, but I’m interested in the ones that give either downpayment assistance or cash that can be used for a downpayment.

Is this a scam? If not:

Has anyone taken advantage of this and gotten good results?

Does anyone see any areas with a lot of upside on these lists?

Here are the articles:

https://www.google.com/amp/s/www.cnbc.com/amp/2021/03/16/makemymove-online-directory-of-cities-that-pay-you-to-move-there.html

https://www.google.com/amp/s/www.forbes.com/sites/laurabegleybloom/2021/02/03/want-to-make-money-this-us-town-will-pay-you-6100-to-move-there/amp/

https://www.google.com/amp/s/www.foxbusiness.com/money/these-cities-pay-you-move.amp

Thanks!

Mason Hickman · Answer

@Jillian Ez

I think that the articles spell out a lot of the details that will preclude you from using the programs to buy an investment property. For instance, I read the article on Natchez, MS and it says you need to "buy a house worth $150,000 or more, then live in the home for at least a year."

Additionally, look at the broader population trends of these areas and I think you'll realize they likely aren't on the rise. Natchez for instance has had declining population since 1980, which was even down from the peak of 1960.

US Cities Paying People to Move - Investment Opportunities?

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