Greetings!
I am wondering if anyone here has any experience they would like to share or thoughts about purchasing commercial residential properties in ultra small town communities, say for example, with a population under 2000? The places I am thinking have prices far more affordable than major cities and there is positive cashflow.
Some of my concerns are:
-vacancies may be more difficult to fill due to small population
-cost of labour/repairs may be significantly higher since may need to outsource workers from out of town
-distance from my own personal residence (couple hours or so)
-minimal amount of industries and economic diversification
-negative net population growth
On the flip side, some pros I see:
-affordability
-positive cashflow
I am wondering if anyone here has any experience they would like to share or thoughts about purchasing commercial residential properties in ultra small town communities, say for example, with a population under 2000? The places I am thinking have prices far more affordable than major cities and there is positive cashflow.
Some of my concerns are:
-vacancies may be more difficult to fill due to small population
-cost of labour/repairs may be significantly higher since may need to outsource workers from out of town
-distance from my own personal residence (couple hours or so)
-minimal amount of industries and economic diversification
-negative net population growth
On the flip side, some pros I see:
-affordability
-positive cashflow