Is A Local "big Player" A Good Thing?
In your experience is a local development enviornment dominated by a few players a good thing or a bad?
I was in Beloit WI yesterday where practically all the commerecial property seems to be owned by two or three players. One of those is an extreemly rich guy who runs a publicly traded co. with its headquarters there. Now is it a good idea to buy a building there and compete with a much better funded guy with much better political connections or am I likely to suddenly have building inspectors visiting me on a weekly basis? On the other hand for the most part this guy seems pretty civicly minded, is trying to prop up a local economy which otherwise might be really bad.
I'm having a similar conversation regarding some property in Arkansas where I am told the local market is dominated by 3 or 4 families.
Sounds like the Sopranos.
If you're going to buy there, make sure you have 8 things: 6 forms of ID, your own Internet access and an attorney plugged in and connected (to the local network, not the Internet).
Looking at this from my perspective (RE broker in land), the small pond with very few big fish is not the place to try to break into. I've seen several instances in potential land deals where the big fish snaps its fingers (fins?) and effectively cuts out potential competition, with the tacit approval of the powers that be.