Having trouble finding a good deal? Anyone else too?

[Ehren Williamson]

I am in Houston, TX. I invest in Missouri City, TX. I was doing great at finding really good deals with an average of a 30% cash on cash return ( I am still a newbie, I feel that is good for me). The biggest problem is that real estate seems to be roaring back and I can't find good deals! People are starting to get insane with their asking prices and homes are going for above the asking prices Is anyone else having these problems? I refuse to participate in this insanity! Am I just going to have to wait out this storm or possibly a new bubble?

[Ehren Williamson]

I buy single family homes around beltway 8 in Missouri City, Texas. I just see a bubble. The insanity isn't part of the fun for me. I am a buy and hold investor so I make all of my money on the buy. I have a really good agent I work with and we are getting outbid like crazy! I am actually giving full asking price sometimes and get turned down. The house will sell for about 5 to 10% higher then asking price! I have noticed a particular group of novice investor, but I have seen these hedge fund types as well. I am waiting for the people making these bad moves to go broke I guess.