Quote from @Oliver Sparks:
Most of my life is spent living in and cruising around the midwest. Particularly in the Kansas City and Des Moines metro areas. And when I'm traveling to the outskirts and more rural areas, it bugs me that I see so many empty old buildings no longer in use. What was once a flourishing business district is now vacant and run down. There are, of course, a large number of reasons why these old store fronts or industrial areas are no longer functioning as healthy businesses. But, the entrepreneurial side of me gets my mind wondering what if...
I'm curious what some other investors and business owners have done to revive and rescue properties like these. And if the choice was made to bring a building back to life, was the decision actually the most economical? Or was it just for the sake of saving a piece of history?
Depends on the small town and the people in it. I've seen a number of small towns that have one person or family that can invest in the properties not because they cash flow but because they value the community above the bottom line.
If it's something that's within 30 minutes of a large growing community, I think it's a great investment and worth looking at but if it's in a truly rural community and the main source of income for the community is ag, it's tough to see the economic upside. I feel like Ag is becoming big business with the $ flowing away from those small towns.
Over simplification on a sad change (my hometown was 350 people). I hope to be that investor that believes more in the community than the bottom line someday. Small town life is a great way to live.