New to BP and looking to make my first investment!
My questions is, how do you tell if the market in which you're looking to invest is oversaturated with rentals?
I'm looking in a small college town, and I see a LOT of apartments currently for rent—in January! Seeing that it's halfway through the school year, I'm taking this as a negative sign that the market is oversaturated. Would that be a fair assumption?
How do you go about addressing this question of market-saturation for yourself?
@Hans M. Hi there! If you are not very familiar with the area I would reach out to a realtor/property manager and try to get a pulse on the market. I am not surprised that there are a lot of apartments in January in a college town, because most apartments will rent out at the very end and the very beginning of the school year. It would be more unusual to have a number of new renters in the middle of the school year. I would bet demand is highest towards May/June and August when kids are trying to secure rentals for the next school year before they leave for the summer or when they return. That's just my two cents based on what I did when I was in college!
The traditional Landlord market is always over-saturated. You can easily differentiate yourself by adding furniture or customizing your terms.