Looking at relocating back to my home state of Nevada. Anyone have a feel for the market in rural areas? I am specifically looking at the Fallon, NV area. Thanks.
I'm in Reno and have tried to break into the rural surrounding areas. I can't find buyers that will invest in the rural areas.
Mark.... IF you are considering Dayton and Fernley as part of your rural areas the market in these two bedroom communities are very good. Entry level homes that’s affordable relative to the Reno/Sparks/Carson City markets.
I have looked at Fallon in the past but have not made any investments for three reasons…The population of Fallon is 8,500 and this is just too small of a market especially when you consider the distance to a larger population (Reno/Sparks).The second reason is that the town is really dependent upon the Naval Air Station. I just don’t like having investments in an area dependent upon one major employer. The third reason is that 56% of the single family homes within the community are rental units. I don't like it when in a rural community this percent is so high, it usually results in large turnover which eats into my bottom line.
Good luck with your search and if I can I resource please feel free to reach out.
I grew up and lived in Fernley until about 5 years ago when we moved to the Seattle area. Fernley is definitely climbing back up in value over the past two years. Many people commute to Reno for work(me and my wife both did), and Tesla is driving the reboot of the large industrial park just to the east. I know I'm looking to buy down there...
Both Fallon and Fernley can make you money. We have 4 units in Fallon woth strong cash flow and have found it harder to buy in Reno than it's surrounding communities. Either way it's proof you can make money in any market.
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