In it for the long haul: invest in area with large potential grow

[Charlene Stovin]

I’m just full of questions.  I was curious, there is a place here that is pumping millions into their small town economy to rebuild the town, future growth and development, and to revitalize the city.  Right now rent prices are more modest, but home prices are also reasonable.  I understand figuring out the cap rate, and other considerations.  My goal is to hold the rental long term, make enough to cover the rent and upkeep, and a little more but my focus is on the long term game.

investing is always a risk, knowing that right now, there isn’t a lot of profit to be had above the mortgage price, but in a year or two, when most of the renovations downtown are done, and tourism comes in, home prices could appreciate....is an opportunity to make money on appreciation from the property long term something you would or would not consider?   either answer, why?

I did speak to someone that has short term rentals in the area' and they are doing very well.  That could be a consideration.  I would love to hear thoughts.