Properties in Rural Areas

[Gregory Calloway]

Hello,

Newer investor here that came onto an off-market opportunity for 6 duplexes in a more rural area. From what I understand they have been rehabbing them one at a time and will soon have the 5th rehabbed and leased, leaving the 6th for me to do. I've run the numbers and it will cashflow well with about 10-12% Cash on Cash before rehabbing the last, then up closer to 25% once that's done. So the numbers are happy. However, being in a more rural area is a bit concerning to me. The old Cliche of "location" is directly in opposition to this place, but the property manager I've been interacting with says the other properties on this set have leased up within about a month and that he's finding a lot of people like the space it affords them as it's out on land with some space. The other trade-off is that if at some point I decide to sell, it will be a lot more effort to sell this property.

My gut tells me to go for it, and that this will really be worth it.

I think at this point I'd really like to hear from other investors that have experience investing in more rural areas and how that has gone.

Thanks!

[Gregory Calloway]

@J. Mitchell Bernier @David Pere thanks to both of you for the input, really appreciate it, good info!