My method sure hasn't worked very well... or has it?
I was looking for cheap warehouse space to start a business in, and did a nation-wide search for the largest, cheapest building in the entire continental US.
I found one that seemed too good to be true. a 220,000 sqft metal warehouse and office complex on 17 acres. I thought the price was a typo at $375k.The agent assured me that the price was correct, and I flew out to see the place.
It was in a little town called Pine Bluff, Arkansas.
I offered about 3/4 what they were asking, and they accepted the offer.
Fast forward 2 1/2 years, and I've had nothing but problems. Break in after break in. Can't work through the red tape with the city so my warehouse sits empty. It feels like they are actively working against myself and other entrepreneurs I talk to. At least 2 others who bought buildings and tried to open businesses left after getting nowhere.
Maybe I'm daft, but I ended up buying about 75 more properties here... all surprisingly cheap.
The town is killing me though. I haven't seen my kids very much lately - I don't think it's safe enough for them. I'm probably going to be moving back to Utah in the next couple of months because it's just too much out here.