Is there any solid way to evaluate other land flipper competitors in a specific market? I have found what seems to be a couple of good counties to pursue but have no idea how saturated they may already be with other investors. How are you guys evaluating this?
@jhb-0 that’s a great question.
I should have a better answer to this, but at the moment, I don’t know of a very scientific way to do this with absolute certainty.
It would be great if we could somehow see the data from all the big mail houses like Rocket Print and REIPrintMail to know how much mail is being sent to other land owners… but I’m pretty sure that data isn’t available to folks like us.
You can always poke around on Zillow and Land.com to see how many other vacant lots are listed, how many are selling, and how many days they’re sitting on the market, but I feel like this still leaves a lot of room for interpretation, and doesn’t provide a solid answer.
I’m going to post this question in our Facebook Group. Maybe we’ll get some good answers there!
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@retipsterseth at what point would you consider a market to be saturated? I am looking at 2 counties and both have over 2,000 land parcels listed. Is that something to stay away from, or should I just consider it a competitive market and just be a bit more aggressive with my offers?
@shavonbogan I think that could depend on the size of the county and the days on market. Although, 2k parcels does seem like a lot in my inexperienced** opinion. But if parcels are selling fast and the county is enormous - then it might not be a big deal. Are folks moving here for a new industry? how many permits were pulled for new homes in the last few years? It is a lot to consider. Those are just a few of the questions I would be asking