How and where to find deals for BRRRR and flipping

[Al Mac]

Hi all,

I'm a recent subscriber to this forum and would like to post a couple questions to the real estate investing community.

I own a handful of properties. I purchased them all from the MLS about 8-10 years ago. These rentals have been producing just a marginal positive cashflow. This is mainly because the purchase price from the MLS was mostly at market value a the time, so nothing that I could consider a "good deal" by today's standards, so the mortgage taxes and other expenses eat up most of the montly rent, with just a little bit left for me as a profit.

After a few years of inactivity I'm raising some capital so I can go into acquisition mode again, but this time I want to try BRRRR and/or flipping. I have been renovating my rentals lately, so I'm getting good at rehabing, and I think I could do a good job in the flipping area.

The question I have is, what do I need to do, or where do I go to find deals where I can buy at a discount, have enough room to fix the property, sell it and still have some profit.  I'm not after a big profit to start, I know it will take practice before I can get a decent profit.

If someone could share the strategies they are using in their market that would help me a lot.

From time to time I get in the mail letters from local investors asking if I want to sell my rentals, but I don't see how they would be able to get properties at a discount by just sending that kind of letters.  When I get those letters I just ignore them as I don't see anything in them that could get me motivated to sell, and if I do, I'm going to ask for a full market value.  I get the feeling that the other rental owners do the same.  So I don't think that kind of strategy works, at least not in my market.

Does anyone have any "secret strategy" that are willing to share?

Any info will be much appreciated.

Thank you.

Al Mac.