Having trouble finding first flip

[Shawn Loranger]

Hello B.P. Community,

   I have assisted with three flips and have raised enough confidence from people around me who are willing to invest in me. The problem i am having is that the market in my area, southcoast Ma seems to be getting more and more competitive and i have looked at several houses and made cash offers on 3 but i am getting outbid. Maybe my tolerance for risk isn't as high as other investors? I'm wondering if anyone has any ideas on ways to buy houses in my area off market? I have tried driving for dollars but I'm having trouble getting in contact with owners of homes i find. Should i be looking more towards the foreclosure market? I'm trying not to get discouraged but any help would be greatly appreciated. 

Thank you, Shawn 

[Jesse Andrews]

Hey Shawn-

I'm in Rhode Island and have seen a lot of investors buying higher than maybe a year ago. For example, most rehabbers were looking for ARVx70% minus repairs. Lately (especially closer to Boston and some select areas in RI), buyers are buying higher than that 70%.
And I agree with some of the other comments- you need to find a good wholesaler or market directly to sellers to truly find a good deal. Not saying MLS isn't going to produce a good deal, but I feel it's far less likely. My $.02.
If you PM me with your contact info, I'll add you to my buyers list.
Good luck!