{"id":5963,"date":"2018-02-02T12:41:08","date_gmt":"2018-02-02T17:41:08","guid":{"rendered":"http:\/\/camerondirect.com\/?p=5963"},"modified":"2020-11-18T18:33:15","modified_gmt":"2020-11-18T18:33:15","slug":"low-inventory-real-estate","status":"publish","type":"post","link":"https:\/\/realestatewealthnetwork.com\/blog\/low-inventory-real-estate\/","title":{"rendered":"Low Inventory Real Estate Market Got You Down? Looking Elsewhere Could Be the Answer"},"content":{"rendered":"

I\u2019d like to address a dilemma that you may have run into a time or two as a real estate investor\u2026LOW INVENTORY REAL ESTATE MARKETS.<\/p>\n

This is a situation where competition is high and inventory is tight. If you\u2019re an investor, you KNOW this can be a real problem because you might only have limited inventory to work with.<\/p>\n

You see\u2026as investors, we\u2019re in the business of buying and selling houses, and in order to do that we need to buy and sell houses<\/em>. (I hope you get my subtle sarcastic humor here.)<\/p>\n

If there are a limited number of properties available, low inventory real estate areas can make the job MUCH more tricky.<\/p>\n

However\u2026<\/p>\n

Before we dive into today\u2019s post, it\u2019s important to say that while some areas may have limited inventory, there are always ways to find DEALS in any market.  Click here to read a recent post and learn all about how you can find vacant properties in any market across the US.<\/em><\/a><\/p>\n

It\u2019s true! I\u2019m speaking from experience here. In areas with more competition, deals may be harder to come by and will require some creative thinking, but it is possible if you stay consistent.<\/p>\n

Feel like you\u2019re running out of inventory in your market?<\/strong><\/p>\n

You might spend a year, maybe two or more, in an attempt to conquer a certain market. But, the time WILL come when, in order to increase your deal flow, you\u2019ll have to implement a new strategy or adjust your current one.<\/p>\n

What I always recommend in this situation is that you begin to look at other markets<\/strong>.<\/p>\n

You could, for instance, start marketing in Duluth, Minnesota tomorrow morning OR Huntsville, Alabama OR even my own back yard of little, old Corning, NY.<\/p>\n

Think of it this way\u2026<\/p>\n

With the systems and tools available to us today, our marketplace is the ENTIRE COUNTRY. When you truly come to that realization and take advantage of the technology that\u2019s at your fingertips, like iFlip Real Estate, you can do deals ANYWHERE.<\/em> Click here to take a risk-free test drive of this powerful system today!<\/a><\/p>\n

There is nothing stopping you\u2014other than a limiting mindset<\/em>\u2014from doing business in other markets across the country!<\/p>\n

The 3 Routes to Consider When Selecting a New Market To Invest In<\/strong><\/p>\n

The Number-Cruncher Route<\/strong><\/p>\n

This decision could be based on a number of factors, including market parameters, inventory, number of recent transactions, number of active listings and more. You can even use tools like heatmaps (From the Vacant House Data Feed <\/a>) below to search areas of a city where there is an abundance of opportunity, like this\u2026<\/p>\n

\"\"<\/a><\/p>\n

And then you can look at heat maps from tools like The Cash Buyer Data Feed<\/a> to see if there are buyers in that area too!<\/p>\n

\"\"<\/a><\/p>\n

If you\u2019re the \u201canalytical-number-crunching\u201d type of personality, this process will fit you perfectly! Just keep in mind that without the use of tools like the Vacant House & Cash Buyer Data Feeds, you will invest considerable time and effort to research, but you probably selected this route because all those facts and figures make you comfortable to move forward.<\/p>\n

The Emotional Route<\/strong><\/p>\n

Of course, you could just choose another market where you want to be<\/strong>.<\/em><\/p>\n

Maybe a family member lives in a particular area that you have an emotional attachment to and you\u2019d like to invest in it\u2026perhaps you\u2019re somewhat familiar with the area and, because you have family there, you\u2019re more comfortable with investing in the area. Plus, it might be a place you\u2019ll be visiting anyway since your relative(s) live there!<\/p>\n

Or, let\u2019s say you loved the city where you attended college and you choose that market. It\u2019s an emotional tie that you\u2019re working with. And again, you\u2019re FAMILIAR with the area.<\/p>\n

The Lived There Route<\/strong><\/p>\n

Another strategy is to select a location where you used to live<\/strong>. Of course, you\u2019re already familiar with the area, and you can certainly use that knowledge and comfort level to your advantage!<\/p>\n

The fact that you used to live there means that you probably still know some people there too! Which means if you ever need \u201cfeet on the ground\u201d for any reason you can quickly find someone to help out.<\/p>\n

So, if you\u2019re struggling to get things going in a low inventory real estate market, I encourage you to look outside your normal market and give virtual investing a go. I think you\u2019ll be pleasantly surprised at the outcome and will be stunned at all the opportunities that are readily available to you and within your reach!<\/p>\n

What About You?<\/strong><\/p>\n

Have you chosen to start investing virtually because of a low inventory real estate market by launching into ANOTHER market? If so, how did you make your selection? Did you feel it was a good choice for your business? Leave your feedback in the comment section below. I love hearing from you!<\/p>\n

Regards,<\/p>\n

Cameron Dunlap<\/p>","protected":false},"excerpt":{"rendered":"

I\u2019d like to address a dilemma that you may have run into a time or two as a real estate investor\u2026LOW INVENTORY REAL ESTATE MARKETS. This is a situation where competition is high and inventory is tight. If you\u2019re an investor, you KNOW this can be a real problem because you might only have limited […]<\/p>\n