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Updated about 8 years ago,

User Stats

216
Posts
57
Votes
Mark Smith
  • Schaghticoke, NY
57
Votes |
216
Posts

Property in a Rural Town

Mark Smith
  • Schaghticoke, NY
Posted

I have found a property that I would love to purchase.  It looks like it would cash flow well, and it is in my home town so I know the area well.  My concern is that since it is a rural village, how likely will it be that I can keep four units fully occupied?  All of the essentials are right in town: schools, grocery store, gas stations, a few local restaurants/bars, but most people commute for work.  The closest commercial areas are 20-30 minutes away.  I'm just not sure if people are really drawn to the area.  It is certainly not on the decline, if anything I would say it is growing slowly.  The current tenants are also month to month which makes me nervous because they could up and leave at any time.  I know this is kind of a collection of random thoughts!  I just wanted to brainstorm with everyone and get some opinions, especially if anyone has properties in a similar location.  Thank you!

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