Rural Markets

[Adam Heim]

Hello All,

new user on BP. Ive been "creeping" on forums and listening to podcasts for a few months now and have decided to become more active. :-)

I live in a semi-rural area.  With cheap home prices and low cost of borrowing... Is there any money to be made in rural / semi-rural areas?  Any advice any one can offer?  

I have some experience as a landlord.  Im mainly looking for more passive ways of building sustainable long term wealth, not interested in the overnight success or endlesa days rehabbing homes, as this would be supplemental income.

Thanks and look forward to learning more!

Adam

[Gordon French]

I love rural. I own 11 properties in a town with a population of 7,000. 
I am doing very well financially and all of my properties cash flow. 

All the standard numbers apply. Find houses with a GRM of under 8. Mine are all under 6. Do you research and find out what the property will rent for and make sure there is a need of the rentals. Many small towns have a huge need of rentals do to the lack of new buildings. Be sure you dont price the home out of the local economy. I wouldn't be able to rent a $150,000 home. They are not affordable by the local working class. Same issues you find in a big city.