Living in rural area situations

3 Replies

I’m in an area where homes can be as low as $3,000 with an ARV of $80,000+, of course repairs can be above 40k in most however, most of the homes are vacant due to lack of population growth. I’m surrounded by deers and trees mostly and the Mountain View is breathtaking but the cost of living is very affordable and this town is really a jewel with the classic cars and antiques. Majority of the homes were built in the early 1900’s and a lot of pipeliners are sent here to work. Research will show big companies buying homes for their employees to stay when in town. I do have 1 investor buying in my area but there are tons of deals and steals here. My concern is this; being less than a year into investing and having horrible credit I don’t have a clue how to build funds for my deals or attract buyers to what I think would be solid investments? I need funds or enough flips to build my own finances. It’s to the point we’re I’m considering moving to Columbus to grow my business but I find it hard to leave this place because the scenery is very enchanting. All advice and or comments welcomed.

It does not sound like the area holds any financial future regarding growth.

If you are living in a affordable area and have no money and bad credit that is a very clear indication that you have no financial future there.  Smart decision is to move to where the work is and go back to vacation.

@Jonah Wilson Check your PM brother. I know exactly where Martins Ferry is located. I invest down in Huntington/Charleston, WV which is very similar but is a bit different imo. You all have the HUGE gas boom going on right now so I'm not sure how that is effecting things.

I do not think we have the type of market to flip houses. I think to properly flip houses you would want to be in a market where the market is hot. I'm sure there are a few pockets in the area where this could be done, but those places are VERY limited in our area. If it's a place inside the city then it is out of my price range.

If it were me, I would figure out a way to get a few of those houses and then rent them out to pipeliners, other blue collar workers, or on Sec 8/HUD, which would all be determined on location and condition of the home.

I wouldn't look to move just yet, there is a LOT of money to be made in this. As buyers we have most of the power, Its insane what we can buy houses for and the ROI numbers are just through the roof which will allow you to grow very quick. Being from the local area is the only way to invest here, so very little competition from outside investors.

I'm sure Wheeling has places in relative price/condition as to what I have been buying in my area. I looked up there last year and remember it was very similar to Huntington/Charleston. 

Best of luck!

I have to agree with @Derek E., I am also in a small market with little growth.  But, there are still opportunities.  My area is farming and hunting.  There are a handful of investors.  The good thing is, you can easily brand yourself and become the authority in that area. 

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