Rural Areas
I just wondered how you all felt about investing in rural areas. I found a hud repo about 10-12 miles from a big town but in a obscure/sparce farm- rural area.
Do any of you have experience with this type of property? I fear that I will rehab it and will not be able to lease option,rent or even outright sell. It seems finding potential buyer/renter should be easier in urban/suburban area..
Thanks in advance
Bri[ Edited by Brill on Date 10/21/2003 ]
You are exactly right, you should be prepared for a longer wait as you have less clientele to offer it to. But if you start advertising before you close on it you will be at least a little ahead of the game. You may also want to set up financing ahead of time and offer financing in your ads. The profits are better in the country if you have the staying power.
Good Luck,
Kyle