Need Help for Potential Real Estate Deal in Cavalier North Dakota
Hey all,
I'm looking to purchase my first investment property in Cavalier, ND. I've been spending the last couple days analyzing this deal (https://www.biggerpockets.com/calculators/shared/2...) and its pros/cons. Here's what I have so far:
Background: Cavalier is a small town (pop. of ~1500) in NE North Dakota, which is approximately 1.5 hours from the nearest large city (Grand Forks and Winnipeg). It's also near Cavalier Air Force Base, where I'm stationed at the moment, but will be PCSing soon and don't anticipate on returning.
This, as you can imagine, poses a few problems, mainly related to support for the home (ie. property management, repair services, etc). Between this and factoring taxes on gains, I'm having a hard time ruling this as a home run. On the other hand, the numbers are solid and there's a constant need for housing amongst our members here on base, which is keeping my interest.
So I ask, am I crazy to consider this or is worth jumping on? Any insight helps. Thanks!
-Mahad