“Cheap Old Houses” Attracts Millennials Escaping the Cities – Real Estate Investing Today

We’ve posted a lot of stories about the exodus from our nation’s urban cores to the suburbs.  With that in mind a recent story from Reuters about millennials searching for homes in “far-flung places” should have flippers & rehabbers taking note.  According to the Reuters, a new startup called CheapOldHouses.com promotes the purchase & preservation of historical houses across America, most of which come in under $100k and contain unique and interesting architectural detail.  Their site says they search nationwide real estate listings daily to handpick the “most beautiful of the bunch.”  Indeed…

“More millennials may leave big cities even after the pandemic is over…”

“With so many offices going remote, people have more opportunity to just say, ‘maybe I don’t need to be paying more than half my income in rent. And I can, I can take that leap.’”

“We feature homes people can realistically buy, but also use their hands on as opposed to sitting in a cubicle all day long,”

Click here to read the full story at Reuters.com.

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