Buying in a random small town far away from home base

[Jan Kutrzeba]

What resources do you use when speculating on the future of a town you're investing in?

I found a property in a small town (population of <10k) in Florida. I've never heard of the town and know nothing about it (besides what I can find on Wikipedia and a basic google search), but the property looks promising (it's a mixed use building with 7 small residential units and three store fronts) and the numbers seem to add up when using the BP calculator, even being very conservative. 

Small towns are often small for a reason, but even small town folks need a place to live in and small town businesses need a place to operate from. My fear is that the town is dying and real estate value with it.

Would love to hear some insight!

Thanks in advance.

//Jan

First time investor from Brooklyn.

[Jay Hinrichs]

I would be very careful commercial in small towns can stay vacant for EVER and a Day.

just drive through any small town between Dallas and New mexico.. look down the main street.. nice brick buildings 90% vacant then on the outskirts of town a walmart and the associated fast food joints..

the resi might work.. and maybe you change the commerical to cheap storage but put NO value in its cash flow would be my advice unless there is some compelling reason you think those would be leased.. if there was demand they would not be vacant would be my thought