Updated over 9 years ago on . Most recent reply
Market Competition
What are some BP user opinions on investing in a market where there are a fair amount of other businesses that specialize in real estate. I am currently researching potential deals in the small college town of Salisbury, MD. I am very familiar with the area because I am a graduate of Salisbury University located there. I know of a handful of small private businesses in that town that specialize in buying properties, sometimes flipping them and renting to college students. I chose this area because I am familiar with it, and know that the prices of units in this area are much more affordable for an investor like myself than that of the area that I currently live in. Along with prices, I know that the University plans to double its student body size over the next 10 yrs which means more students to rent. However the only downside is what I mentioned previously, there are currently small private mom and pop businesses that have a firm grip on the market and own many properties in this town. Due to their local connections with brokers, agents, and contractors that I do not have am I wasting my time trying buy in this market?