Very new with $100,000 to start out with.

[Dustin Leonard]

I am some what new to real estate. I was a landlord by default back in 2011 but I have since sold that unit. I've been interested for a while in investing in real estate and my wife and I think that now is the time (probably not the best time with such a high market) but we are moving forward anyhow. 

We will have about $100,000 to throw into hopefully a couple of different units plus another $50,000 for repairs and emergencies. One of our biggest hurdles is going to be that everything is selling fast and for top dollar. How do we go about finding deals? Do we go throw our names out at a local bank to find foreclosures? Any advice would be great because buying high and selling low doesn't sound like the best strategy but we don't want to put off investing for 30 years because the time was never right. 

[Jaron Walling]

Get out and find a deal yourself. Best bet you have right now. It's a frenzy for sure and prices are insane but who cares. Get an agent or two in your corner and start looking at distressed deals. Toss the whole winter and holiday season is slow mantra out the window. I negotiated $20K off asking (about 25%) on my first property and started remodeling in the dead of winter. 

Sellers who call you back during this time are motivated. Contractors who call you back are motivated. Roofing contractors love spring and early summer. The weather is great and some offer better prices outside of summer.