Is Anyone Successfully Rehabbing / Flipping in Small Towns??? or is this mainly being done in large cities???
Hi TruChoice Ventures,
I live in Carlsbad, NM with a population of around 25-30k. I bought my first rehab Aug. 30. I’m rehabbing two more right now and have bought a total of four homes since I started in August.
Don’t let the small town excuse be the reason you can’t invest!!!
Good luck,
John
And some of these small towns may not be so small in a few years. In 1990 the town that I’m a part of had approximately 3,750 residents. Seven years later it had reached 9,000. By 2000 our town had over 13,000 people and in 2004 a special census showed that we had almost reached 20,000 residents. In the next year or two we will have a train that will take us directly into Chicago. Thinking ahead, the towns west of us (within 15 miles) should see similar growth… and better yet, house prices have taken off over the past 5 years in this community.
Excellent topic!! I am in a small area too and looking to do rehabs. The pickings are very slim compared to the high population centers, but hopefully the competition will be a little less too. I’m sure there will be plenty of competition though.
Jeff
I actually just put a bid on a hud home in a town of 8500 .Im leaving a city of 152,397 simply because the prices are over inflated and the home in the small town is being offered at 50% of market value. So what if it takes a year to sell Ill still make $20,000 instead of $25,000
Ill Take it.