Should I purchase a small town?

[corphelp]

I am currently a retire after some 20+ years from the real estate risk evaluation field.
Hello group. My concerns are with the displaced family here in the USA. I have been working on a project to purchase a small town that would offer a safe haven for the remaining family members. From my experience of working thousands of miles away from my family and my main concern was always the safety. I relocated my family to the safest city I could find with low crime rate, good school district and moved my family there. The main reason for taking out of state jobs was because there was little employment opportunity in the state I lived in in my field of work. My job assignments took me from one state to another and for said reason I could not have brought my wife and children with me.

This decision allowed me to perform my job just fine.

I have found a small town of less than 300 resident that for sale with 7well establish ongoing businesses establish since the late 1960’s. The seller is I her 80’s, widowed and wants to sell. Seller willing to carry back a mortgage with 50% down payment. Problems is that there is a need to bring new businesses into this town located on a major highway and craters to traveling tourist and gambling resort Southwest city.

I believe that I can build on the existing businesses and create a new company to employ the displaced family. There is ample vacant land of approximately 400 acres to allow for the building of commercial and or residential properties.

[REMOVED BY MOD]

I would appreciate all feedback you are willing to offer. Thank you in advance.

 

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[jon.a]

Wow, what a terrible first post.

 

[MJ DeMarco]

Not sure what this is, aside from a money solicitation (which is now deleted), but this is not what this forum is for.

And we can't offer you investment advice on an investment that contains no worthwhile information to make an analysis.

 

[BD64]

landfill?

 

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[minivanman]

1st lesson.... if you can't pay cash with no financing, never do it. So look at your bank account... can YOU afford it? If YOU can.... buy it if you want. No need to solicit money from others.

I often think about going back to my home town when I was a little kid and starting new businesses there but it would just be a big money loser so I don't. If I could just find a way to come out even after 10 years I'd do it, but I can't figure out how to do it.

 

[Kak]

Think bigger, purchase a country.

 

[IGP]

Think bigger, purchase a country.

Or at least a book on grammar and sentence structure!

 

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[Kak]

Or at least a book on grammar and sentence structure!

That’s a start.

 

[TonyStark]

Already been done

 

[Late Bloomer]

Corp, your introduction assumes that we all agree that in order for families to be safe, they absolutely MUST live in small towns, isolated from the rest of civilization. People who don't share that judgment about the world will have thought very little, if at all, about how to make that work, and probably won't have much relevant advice. This forum could be a good resource for developing a business you could run from Safety Tinyburg, but it won't be much good for you beyond that. If you are completely certain about the need to get the hell out of Dodge, I would suppose that a "prepper" themed forum would have a lot more advice from people who are already thinking along those same lines.

 

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[Scot]

I’m going to ask a stupid question...

Can you even buy a town?

Like, Detroit is bankrupt, can I just buy the city from the local govt..?

 

[Veloce Grey]

I’m going to ask a stupid question...

Can you even buy a town?

Like, Detroit is bankrupt, can I just buy the city from the local govt..?

I've seen two towns for sale in recent years within an hour of where I live. It's not exactly an up and coming area

I think I'd still be inclined to go with the whole "purchase a stack of bare land and start your own town/city/country/empire". It sounds easier than dealing with pre existing messes.

I often see large patches for sale fairly cheaply nearby but there's usually a catch-very hilly, gets no sun, covered in scrub etc. The fancier areas on the other side of the Alps don't get bought by potential cult leaders wanting to build their own fiefdom, rather American and Chinese billionaires wanting somewhere to escape to if stuff starts hitting fans in their country.

 

[Guest3722A]

I’m going to ask a stupid question...

Can you even buy a town?

Like, Detroit is bankrupt, can I just buy the city from the local govt..?

Dan Gilbert - Wikipedia

 

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[Late Bloomer]

I’m going to ask a stupid question...

Can you even buy a town?

Like, Detroit is bankrupt, can I just buy the city from the local govt..?

Yes, but usually a town for sale will only have a few buildings in an isolated area.

 

[WJK]

I am currently a retire after some 20+ years from the real estate risk evaluation field.
Hello group. My concerns are with the displaced family here in the USA. I have been working on a project to purchase a small town that would offer a safe haven for the remaining family members. From my experience of working thousands of miles away from my family and my main concern was always the safety. I relocated my family to the safest city I could find with low crime rate, good school district and moved my family there. The main reason for taking out of state jobs was because there was little employment opportunity in the state I lived in in my field of work. My job assignments took me from one state to another and for said reason I could not have brought my wife and children with me.

This decision allowed me to perform my job just fine.

I have found a small town of less than 300 resident that for sale with 7well establish ongoing businesses establish since the late 1960’s. The seller is I her 80’s, widowed and wants to sell. Seller willing to carry back a mortgage with 50% down payment. Problems is that there is a need to bring new businesses into this town located on a major highway and craters to traveling tourist and gambling resort Southwest city.

I believe that I can build on the existing businesses and create a new company to employ the displaced family. There is ample vacant land of approximately 400 acres to allow for the building of commercial and or residential properties.

[REMOVED BY MOD]

I would appreciate all feedback you are willing to offer. Thank you in advance.

That sounds like Harmony in the Gold Coast of California.

To answer your question, it all depends. Will you family be happy? Do they want to work at the businesses? Can you hire someone to run them and still keep them profitable?

I have some friends over here that was trying to set up a place for all their family members to build a home and live on their property. They built their house and that's been it. No one else wanted to build there. The rest of the family scattered. And my friend have ended with 4 of their grand kids to raise.

People don't appreciate what they are given. Or being told what to do.

 

[CaptainAmerica]

Yes, Tiller Oregon!

Pros: nice people who want to live out their lives there, essentially living in Paradise, within 4 hours of Portland. Plus, I live like an hour and a half away! Why not?

Cons:
- prime wildfire country, with only one road in or out
- no young people except babies who will escape as soon as they are able
- no industry or stores left except one (cash only)
- nearest gas is 15 miles away
- no one goes there by accident, which means you'll have to create your own economy
- unless you want to drive to Canyonville or Myrtle Creek, because
- there's no cell reception.

Don't do it. Let it die in peace.

 

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[Roli]

landfill

 

[corphelp]

Yes, Tiller Oregon!

Pros: nice people who want to live out their lives there, essentially living in Paradise, within 4 hours of Portland. Plus, I live like an hour and a half away! Why not?

Cons:
- prime wildfire country, with only one road in or out
- no young people except babies who will escape as soon as they are able
- no industry or stores left except one (cash only)
- nearest gas is 15 miles away
- no one goes there by accident, which means you'll have to create your own economy
- unless you want to drive to Canyonville or Myrtle Creek, because
- there's no cell reception.

Don't do it. Let it die in peace.

Thank you for your reply. As far as the town sustaining it' self there are 8 well season business that cater to travelers. The primary business is a small casino, RV park, hotel, grocery store, laundry facility, utility company, mobile home park. There are no abandon building.
True there is a need to attract young families and I do plan on bringing in new small business.
The current yearly income is in the $2,500,000 yearly range.