8/14/2023 0 Comments Packer game channel river falls wi![]() “Investors in a position to pay cash for properties will pick up the good deals,” he added, “but we also are seeing investors trying to acquire deals that do not pencil out.” This is due in large part to the very limited residential inventory in the area at present. “Single-family homes have been flying off the shelves and the amount of cash flooding into the market for investment properties has impacted the Green Bay market in unique ways,” Cichocki said, observing that long-term rentals are a viable option in the area although short-term rentals tend to garner more attention due to the sky-high rates associated with Packers games. People come to Green Bay and stay for years as well as just for the weekend, he said. Jeff Cichocki, a Green Bay real estate investor who also runs a hard-money investing fund, emphasized that while the Packers certainly boast an outsized economic impact, Green Bay offers much more than just football. While the Green Bay Packers certainly are the “headliners” when it comes to a discussion of Green Bay real estate, they are not the only game in town when it comes to investment opportunities. Green Bay, Wisconsin downtown under scenic Spring fog at sunrise. The result of this concerted effort is a strong, stable market that is both resilient and relatively affordable. ![]() “Our hope and our goal are to ensure that visitors have a very, very positive experience while they are here, and then they want to come back,” said Nick Meisner, vice president of marketing and communications for hospitality group Discover Green Bay. So far, it has been enough, and she, like local businesses and the Green Bay government, is determined to keep Packers fans happy – and coming back for years to come. That rental income represents most of her retirement budget, said her son, noting that this is the only thing his mother has “lined up” other than social security. One weekend during the playoffs earns her around $5,500, and regular-season game rates can be hundreds or thousands of dollars for a weekend. That influx represents huge opportunity for real estate investors on all scales, from individual short-term rental owners to investors with larger portfolios.įor example, one local retiree rents her property near Lambeau Field out on weekends when the Packers play at home. In fact, for 2022, Best Places reported Green Bay’s future job growth rate would likely exceed that of Chicago, Illinois, by nearly 10 percentage points and would edge out national growth as well.Īlthough Green Bay’s median income is about $15,000 less, annually, than the national median and is $6,000 below that of Chicago, the town benefits from a relatively low cost of living (82.3 on a scale of 100) and the massive influx of football-driven spending during the NFL season. The city is the third-largest in the state of Wisconsin, however, and tends to outperform the rest of the state in terms of employment and income. Green Bay is a relatively small market, described by its own chamber of commerce as being “much more than two cities, nine villages, and 13 towns.” The Packers bring in roughly $15 million in economic impact per playoff home game and have an outsized impact on the regional economy and the local real estate market. This record is, of course, marred by the 2020 COVID-19 pandemic, during which Packers fans were forced to stay home and watch their team play in an empty stadium out of concern for public safety. ![]() ![]() Today, the “Toilet Paper City” is known more popularly as “Packer City” for its wildly popular football team, the Green Bay Packers, considered among the last of the “small-town teams” and valuable thanks to the winningest record in NFL history (13 league championship wins and four Super Bowl victories) and an exceptionally loyal fan base that has sold out every regular and playoff home game since 1960 regardless of team performance. In fact, with the introduction of splinter-free toilet paper in the early 1930s, the city’s recession-resistance was all but guaranteed. The Packer City is Ripe for Portfolio Expansion…If an Investor is Creativeĭuring the Great Depression, Green Bay, Wisconsin, avoided the worst of the economic downturn thanks to the prevalence of toilet paper companies in the city. ![]()
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