@ Bernie and Ed. I am a healthcare provider and a transplant from MN. Been living in "the county" for over one year. Things are very different up here. I am in good financial shape since my wife and I are both frugal and able to save 50% of my salary, even though we both have student loans and a mortgage to pay. My wife stays at home to watch the kids and I work full-time. My interest is in 2-4 units rental property to establish passive income. I am very hesitant to move forward since I don't know enough about the market up here in Houlton. There are several 2-4 units multiplex available and they are they are built in the 1900s. It seems like they have been in the market for a year or more. When I do the four square method, the COC on several of these property is more than 20%-50% with conservative numbers, but I am very concerned about vacancies since the population is aging and not growing and there is no economic recovery up here. I am also not sure what my exit strategy would be in the future. I am a newbie and afraid I might make the wrong choices.
@ Ed. Mobile homes seem like an interesting option. Can you explain on this "Buy and rent to own. Sell the payment amount rather than the total price and you will recoup your money very quickly and establish a residual."
