Do you have a "nitch", how might one create their own nitch?

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Bill Gulley Thanks re niche!! I almost spit my coffee. There's nothing that Bill G can't help with I was thinking!! :) @john Is your niche being geographic adept or do you have a tactic / style that gives you an edge? Michael Seeker That was brilliant!!! Do what most don't like / or can't do! I think that's an excellent idea. Bill offered adding design touches that are your trade mark. A guru / trainer, Financial Momentum, a flipper trainer advocates creating a brand and put it in the MLS ad and else where. "Home design by Melissa" etc. Bill also offered the financing side as a way to increase the buyer base. Michael offered a help to someone wanting to invent their niche, do what no one else wants to do or can do. Any other ideas on the process for inventing and testing a niche? tnx alot.

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Basically, just find a need that isn't being met, and meet it! Years ago when the competition was tight, we looked at our local market and asked ourselves, what is it that there's a need for, but nobody else is doing it? We found out that there were many small businesses that would like to own their own building or space, and were tired of paying for their landlords investment. We then started developing small office parks, with single story buildings, designed to appeal to a wide variety of small businesses, and designed them as PUD's to allow us to sell them individually. We also did some office/retail condos. We did that for years, and did very well. Finally some other builders decided to jump on the bandwagon, and then the market crashed. Now have relocated to southern California and are trying to find our niche here! It looks like it will be doing residential on infill lots. We have a medical office project we are working on, that we know can be very lucrative, but the Obamacare debacle isn't helping.

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this is all awesome info! A lot of this advice can be applied to other aspects of life as well. And on the most recent BP PODCAST the guy from austin mentioned finding something and sticking with it. Once you are a Master. Then move to something else. I too must figure out what I want to master

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I think you have a great thought process going. I think if you take your niche idea and transition that into- do what you really like doing. Doing what you really like doing will create your niche. Don't create a niche un-organically, let it develop naturally and you will succeed. The niches I've found myself in, I couldn't have guessed those in a million years, nor did anyone ever suggest any of the ones I landed. I'm from Atlanta and have properties there that I bought in the investor boom, and have been following the market closely. Just don't let the big guys intimidate you, but also don't be unrealistic as to what you can do there either though. For example, don't think you are going to find good deals on the MLS there. The big boys, I promise you, have full-time agents stalking that MLS. So if you find something that has been listed for more than about an hour, it's probably not a deal. So Atlanta is really limiting for the little guy right now, but that doesn't mean you can't jump in. Use the time to figure out what you love and you'll succeed.

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@Curt Smith, Excellent question. Top producers do what others are unwilling to do. This old saying remains extremely true and relevant. To add, do what you love to do or has great meaning to you. By doing this, it is never work. Every morning you will rise eager to go do that thing you love to do. For example, it is very meaningful to me to help others realize their dreams. I take great pride in being an asset and contributor to the community. The real estate business makes this possible in many ways. I primarily focus my efforts on the Chevy buyers - lower to mid income levels. This is not work, it is my personal challenge to solve problems and put smiles on faces and in their hearts. One consideration that most old-time investors avoid, if it is a trend and popular, it is no longer a good investment opportunity. This is true in all business endeavors, unless you do what others are unwilling to do - an example is Walmart that put the old guard out of business.

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For starters, I'd shoot for about 10 things that you think most other investors in your area don't want to deal with. Once you've got that list together then you can start narrowing it down. Is there anything you cannot deal with (i.e. you have a deadly mold allergy)? Is there anything that is not feasible (i.e. your locale doesn't have a section 8 program, so not an option)? Which thing would potentially produce the highest returns and be most readily available? As far as testing goes, once you've settled on one or two of the items from your list, dig in and research the heck out of it/them. Decide if it still seems feasible after you've educated yourself. If so, then "test" it by going out and finding some deals!

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Expand your horizons !!!! My contractor & I are looking at infill lots esp. with duplex zoning. After the last total rehab & then a new build I did it's more profitable to build than a complete rehab. An old guy @ the Tax Lien auction Saturday just picked up a nice 1/2 acre SFH building lot with all utilities @ the road for $5k. I didn't have the heart to bid against him. But the one (above) I let go @ $29,500 was a BIG mistake........ NIAGARA COUNTY TAX FORECLOSURE AUCTION - August 17 2013 Property Address: 8135-8139 EAST BRITTON DR Municipality: Town of NIAGARA Bldg Sq Feet: 3158 Built: 19301st Floor: 1579 2nd Floor: 1579 Heat: HOT AIR House Type: OLD STYLE Bedrooms: 9.0 Exterior: BRICK Bath: 2.0 Water: PUBLIC Basement: FULL Sewer: PUBLIC Number Stories: 2.0 Imprv 1: PORCH,ENCLSD Imprv 2: GAR,1.5 DET Imprv 3: BARN,1.5 GEN Imprv 4: SHED,MACHINE Acreage: 1.10 Land SqFt: 47916 Use Code: 02 - 210 Class Name: SINGLE FAMILY RES Lot Size: 240 x 200

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Curt, if you hadn't used the word so much I wouldn't say anything, but it's not "nitch" it's "niche" a market niche. :) Specializations in RE can go in many directions; Concentrate in working with a group of clients like, teachers, law enforcement, city employees or say a local union. Offer seminars to new employees hired stressing information not so much your deals, write for their publication or newsletter. The key is to be known in that organization as the go to guy, build a reputation with very good service above what they get elsewhere, just for them. You pointed out property specialization. You need to brand your business with certain properties and consider adding amenities that are unique to your properties. Rosettes in trim are simple to add, custom made that identify your work, appraisers will catch on, do quality work and your brand will be recognized. Specialize as Brian H does with nice houses in good school districts, this is a neighborhood or location niche. Your niche can be simplifying the process, by strategy, seller financing, lease-option, direct bank loans available, you're specializing in a market of certain buyers that may otherwise have a hard time going conventional. Services to other investors or lenders, simply find a need and fill it. Free weatherization for bank owned properties, works nicely for some agents. Partner with investors to wholesale to any of the above mentioned markets, you can get something from both sides if you are not a Realtor and with greater care if you are. Non-profit housing is another service specialization, providing housing to them for their clients. Temp housing to corporations, they have employees come in for training, seminars or temp jobs and putting up 3 in a house can be cheaper than a motel. BTW, pilots and air crew are good targets, they partner between themselves for temp housing when in the area. Medical clinics and hospitals may make family quarters available during terms of treatment. Who, what, when, where needs to be the question in looking at needs of customers, identify these aspects in your area and you'll likely discover a niche either that is not served or underserved. :)

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Have you considered making a list of things that you, as an investor, do not want to deal with? For example, run down apartments that are vacant or have section 8 tenants, mold, structural problems, evictions, etc. These would be good starting points for "niche" areas to invest in. Most investors don't want to deal with things they consider to be headaches. The truth is, after you've dealt with said headache(s) a few times, the process becomes normal to you even though a lot of other people wouldn't touch it.

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Curt, I would say that if your model works stick with it....Atlanta has been very busy and I think its only going to get busier with new investors coming in. My recommendation is try other markets. Don't be afraid to go out of state. My niche is my model works everywhere in the country. If one of my markets is saturated I go to another. Deals are out there. Maybe Florida or the Carolinas should be a new option for you. Don't be afraid to venture out of Atlanta if the opportunity presents itself. Regards, John