Is There Such Thing As A "Saturated Market"?
Hello BP investors and alumni, My name is Lawrence Taylor and this is my first official post. I'm excited to get feedback so let's get to it! I've been marketing now for about 3 months and I've noticed a heavy presence of investors almost everywhere I look. My marketing includes driving for dollars, direct mail(yellow letters), and knocked on a couple doors but no one was home(at least I think). As a newbie investor I was curious if there was such thing as a "Saturated Market" or is that just a myth or excuse that people use when their stuff doesn't work or they don't get the "typical" results.
I'm not sure where I heard the term or how long ago I heard it but I would think in the Houston area that would be the case. I know 3 months of marketing isn't a lot to go off but to me when I go to my REIA and speak with the veterans of that group they all seem to be making it rain on marketing which creates some doubt in my mind as you can imagine. So my plans are to continue focusing on direct mail and either drive for dollars and door knock on the weekends. I just can't help but notice the amount of bandit signs, post cards and overall marketing I see and wonder how many people (if any) feel this way and if maybe that's why people get discouraged from making the switch into Real Estate.
I have a full time job and small children (including a newborn) so I can't hit the pavement or stay up writing letters as much as I would like. I also don't have chunks of cash to drop on marketing so I know I'm at somewhat of a disadvantage. If there is such thing as a Saturated Market and in fact I am in one, is there any advice on dealing with it OR if it IS just a myth please let me know so I can breathe a little bit easier in my quest for finding great deals!
Thanks in advance.