Updated about 4 years ago on . Most recent reply
Thoughts on investing in a market driven by oil and gas
I work in the Ohio Valley where most of the economy is driven by oil and gas. I found a 4-plex for sale that I am considering purchasing and moving into. There are currently 3 other tenants and I would be moving into the vacant apartment. I work in the oil and gas industry myself with up to two more years of work down here, and am considering this option to reduce cost of living and possibly as a long term investment. My main concern is the future outlook in an area that relies heavily on one industry that will likely continue to slow down in the future. There is a large plant that could potentially be built down here in the next few years, and if so would be great for longer term outlook, but not much else besides that. Just looking for feedback on if this would be worth it? I have connections to other oil and gas workers that will pay higher than average rents, which is cheaper than staying in hotels, I would just have to fully furnish the place and have flexible leases.