Group Efforts? Revitalize a WHOLE TOWN?

[Greg Carroll]

Many communities have been devastated by natural disasters. Has anyone ever tried to bring a group of investors together to rebuild a town? One where most of the homes were damaged or destroyed as were businesses. The people never came back and the businesses never had a reason to reopen. I drove through one of these recently (one of the saddest things I've seen) and thought, a pool of investors all doing individual fix and flips or fix and holds could revitalize a town. Once the houses started coming back so would the businesses.

What are your thoughts?

[Andrew Garcia]

Hi @Greg Carroll, the biggest issue I see with this strategy is that you need people to buy the flips or rent the newly renovated properties.

Sure, some people can afford that but if you were to do it to the whole town, you would have listings sit for months.

That would likely be your biggest obstacle.

It would be great if you could pull it off, however.

Hope this helps! Let me know if I can be of any assistance.