Can a county become too saturated?
It’s a topic that comes up often. More specifically, there is an area in CO with a lot of investor activity, does that mean you should look elsewhere or throw in your fishing pole?
It just depends on what kind of fisherman you are.
Join Mark and Team Geek:
- Erik Peterson
- Aaron Williams
- Mimi Schmidt
- Scott Bossman
- Scott Todd
…as they offer sagacious advice when working in saturated areas.
Even when an area is rich in investors it doesn’t mean that you won’t find the deals there. It just means that the market is good and there is a high demand in that area. It may take a little more work, but the deals are there.
What can you do if you are working in a saturated area?
- Find a way to stand out
- Specialize in a certain niche
- Put together a good buyers list
- Keep showing up
- Know your numbers
As Scott Todd points out, LGPass has put out over 700,000 offer letters in the past 2.5 years. And when Scott ran the numbers on one particular area, one APN number had only been mailed to 3-4 times, in that time frame.
The market is the market. If the market is saying to you that there is high demand for that area, then investors will go there. What you will find is when you put on your fisherman’s hat, some people will go out and fish and if they don’t get a bite or 2 within the first hour, they go back home.
Other people will hang out there 8 hours and they’ll catch some fish and they’ll be super happy because this place is great.
Then some people, like myself, will hang out there 18 years and they will keep catching fish because they keep showing up because they know that there is fish there. And I don’t care if on one day or one week I don’t catch any fish. I know there are fish there, I know they are delicious, and I know they’re going to make me fat & happy. -Mark