Where do YOU find the deals?

[Brad James]

One of our reasons for looking more into developing is because finding residential real state at 70-80% of FMV is next to impossible. I have several strategies in place and have shopped in my spare time for years. However, I have found if they are cheap, there IS a reason and they are marketed for what they are really worth.

If a realtor has it listed, forget about it. Already over priced. The last call I had was from a builder that said he had a "deal" for me. new home that appraises at 850K, he will sell for 810K. I said, have a good one...I have also dropped off a ton of letters to potential properties with not one return call.

So I was just curious if you guys are using word of mouth, listing an ad in the paper, calling on homes in the paper, using a realtor for what?

Also, is there a best type of deal to look for like tax foreclosure, govt auction, REO, etc?

[Michael Rossi]

I get almost all my deals from personal contacts. Someone knows someone who knows that I buy property. The key to doing this is meeting people and letting everyone know that you buy property. It is especially to know the key people in your community - other successful investors, bankers, lawyers, etc. These people will refer people to you when they are really DESPERATE to sell.

As for the property you described, I would go knock on the door!!! Deals are made in person - not via mail.

Good Luck,

Mike