We are interested in someday living in an airpark, or fly-in, community. Once these types of communities are well-established, it is our experience that property value is rather high, and currently out of our reach.
Therefore, we've thought for some time that it seems to be a good investment to try to find land in a new, as-yet-undeveloped, airpark community. People talk about real-estate investment as one good way to nice payoffs, and we are thinking this might be a niche market that could be profitable in getting us closer to our ER goals.
We just found a prime lot that fits this description and we are thinking about buying it, either as an investment or a future homesite. But we are still debating on whether this is a good real estate area to invest in or not.
We know the potential buyer population is much less in airparks (mainly pilots) and the time it takes to sell property in airparks is typically longer. Also, airparks are typically farther out of big cities than some people like to live.
Given these realities, I am interested in people's opinions on what type of investment airpark property could be. Does anyone have experience buying and selling property in airparks? And how long does it usually take for a new airpark to get established before the property values to rise?
Thanks in advance for any wisdom people can offer...
Therefore, we've thought for some time that it seems to be a good investment to try to find land in a new, as-yet-undeveloped, airpark community. People talk about real-estate investment as one good way to nice payoffs, and we are thinking this might be a niche market that could be profitable in getting us closer to our ER goals.
We just found a prime lot that fits this description and we are thinking about buying it, either as an investment or a future homesite. But we are still debating on whether this is a good real estate area to invest in or not.
We know the potential buyer population is much less in airparks (mainly pilots) and the time it takes to sell property in airparks is typically longer. Also, airparks are typically farther out of big cities than some people like to live.
Given these realities, I am interested in people's opinions on what type of investment airpark property could be. Does anyone have experience buying and selling property in airparks? And how long does it usually take for a new airpark to get established before the property values to rise?
Thanks in advance for any wisdom people can offer...