Investing in a Small Town

[Mav Larson]

Hey All, Everything I read recommends investing in places where jobs are moving to, population is increasing, infrastructure is great. It’s true - these are all great recommendations. 

But counterintuitive to all that advice is a small, mountain town where the population is hovering at 2,500. The town is close to ski resorts and the redevelopment agency has just started investing a lot in the downtown area. The buildings in this downtown are currently a lot less than comparable buildings in surrounding towns. Because of the high mountains, nature, and skiing, most of the towns rely on tourism. 

Helping this small town rise up seems appealing but on the flip side, it also seems very risky. 

The plan: I’d buy a building, do much of the renovations and buildout including a residence, and then find someone who wants to open a brewery in the building.

Has anyone invested in small towns like this? I’m a buy-and-hold with everything so far so I usually look for solid buildings with long term cash flow.

Any input or thoughts would be greatly appreciated. Thanks.