Are you in a saturated market?

I plan on going with a 10/80 piggyback mortgage unless there are better options.I’m hoping my status as an owner-occupant buyer might make finding a deal easier since this market is so saturated with RE investors who I can’t compete with.

The market everywhere seems saturated with wholesalers and makes it impossible to find good deals.

It seems so popular that it must be over saturated and looking on Airbnb there looks to be a ton of competition.

Get your head around it and it will be your friend.To purport that BP is feeding all us fat kids the latest Unicorn Latte to our own demise is a rather uninformed, hilarious and way off the mark comment.

As such, the market is CRAZY saturated right now.Accordingly, does anyone have any a) suggestions about other ways to source deals (outside of direct mailing) or b) have any knowledge of decent deals in the Chicagoland area? 

Dig through biggerpockets and google learn about running the numbers on a flip and marketing for sellers, you'll want to be creative with the marketing if your area is saturated with We Buy Houses sort of bandit signs.

Your monthly rent could easily top $3000 if you finish a unit nicely, and while you'll either have to hire a cleaning service or DIY and furnish the unit(s) you rent, this can be done cheaply and even included in some loans.I imagine the vacation rental market will be saturated by the time I return, but if I was in that area today, I'd focus 110% of my energy there.If you prefer long-term renters, you can still win, but you might consider a direct mail campaign to find off-market property.

In addition to what you see in this thread, I'd recommend adding a fat safety cushion to your budget for all unplanned expenses. 

Initially, I was hesitant b/c I was surprise to find out that the property taxes where higher than Charlotte's but due to the over saturation of investors in Charlotte for local & out of state investors I think you may be on to something.