Hi,
Just getting started with our Retipster and real estate. I was telling a friend about it who owns two rental houses in Minneapolis. He told me that he always gets a few calls or texts every week asking if he would like to sell at a low price, and that this week he got five. It made me wonder if there are too many people doing this for it to work? How do you know if an area is saturated with real estate investors?
Also, only the category house hacking comes up on the forum to select from. How can I choose another category?
@klhaugan it’s hard to make a definitive statement about all real estate types in every market, but if we’re talking about the most generic types of properties that 99% of new real estate investors go after (houses and duplexes) I think there is a huge imbalance right now, for sure.
This kind of thing is an obvious clue that there’s a huge imbalance, caused by several factors, one of which has been incredibly low-interest rates, which are already on their way up… so this might eventually help correct things to some extent, but it won’t happen overnight.
It’s times like this I’m glad I only buy land. There may be higher competition than we’re used to right now, but it’s still WAY less than other property types.