Investing in Vermont.

7 Replies

Looking for investors in Vermont that have properties in places other then Burlington or St.albans. Places like Rutland or Barre, Montpelier, Waterbury, etc. Do you have a problem findIng qualIty tenants in these areas? Does it take you a long time to find a tenant or do not get many inquiries on properties? Does anyone have an AirBNB Property? How is that going? Burlington is so expensive to get into and not much cash flow, and st.albans the market is just very thin.

I've got 7 units in Barre and my vacancies are short and infrequent. Alot of my tenants are subsidized, but FMR is fairly decent. Flood insurance bites into my profits, and the city housing inspector is a jerk, but other than that it's a solid investment here.

@Samantha Hiscock That is good to know, I have been looking more and more in Barre and Rutland area because they are cheaper then St.albans to get into but seem like cash flow could be higher also. I do not know the areas well, so I have been worried about vancany there. With Rutland especially I have been worried about the tenants being not the most desirable due to the city having a lot of drug movement.

We have our fair share of undesirables, but you can usually weed them out with proper screening! There is a significant amount of drug activity here as well. There are a few areas to avoid, but most of it is just fine.

@Samantha Hiscock That is true, every town/city has some sort of drug activity. Thanks for the insight, its greatly appreciated!

@Shane Brown hey Shane, I hope you are doing well. I have a friend that has a SF property In Rutland that she is renting as she moved to Chittenden County for work. I can put you in touch if you are interested. Working in public safety, I’ve had a few people tell me there are certain areas that you would want to avoid due. Reach out if you want me to try to put you in touch with someone about location. Best of luck!

@Amy Paradis Hey Amy, all is well hope the same for you. That would be great if you could put me in touch with her!

That is kind of my concern with Rutland or Barre, they are both so affordable compared to St. Albans for a first rental property but even by St. Albans standards the drugs in those areas are really bad. Being in Vermont if someone got into the apartment that was a bad fit an eviction could be devastating at the start.

@Shane Brown I think part of the risk can be mitigated to some extent with a strong tenant screening process. I just think you need to be selective in the area you purchase so you can find qualified tenants and don’t Battle vacancy.

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