Where to find good deals

[Kirsten K. Burke]

Hi everyone! My name is Kirsten Burke and I am new to real estate investing. I live in the suburbs of denver, colorado, where the market is very high and I am having a hard time finding deals. My plan getting started is to fix and flip the first few homes and then switch to flip and hold so that I have a little extra financial cushion in case of an emergency, cant find a tenant, etc.. however I am having a hard time finding deals in this area and was thinking foreclosures may give me the best option for max roi. Does anyone have experience in foreclosures and where a rookie like me should look when just getting started? Thank you in advance for taking the time to read this and any advice you throw my way is greatly appreciated!

[Jaron Walling]

@Kirsten K. Burke Welcome to BP! If you're running the numbers for rentals and flips you're probably realizing just how hard it it find DEALS in 2020. I don't live in your market but I've discussed it numerous times with other investors. I also have a friend that lives in Colorado. Two years ago he was a retail buyer and couldn't find anything to purchase in Denver.  They literally gave up and decided to buy in Erie, CO. 

Denver is crazy. My advice is to get in the trenches and look off market. If I was investing there I'd use 75% of my time researching, running numbers, and trying to connect with sellers. The other 25% would spend on foreclosures, wholesalers, and glancing at retail listings. You'll be successful if you can network, send letters, knock on doors, and find sellers with a problem! Get intimate with the neighborhoods and understand what a DEAL looks like. That's how I started out. Maybe it'll work for you. Best of luck.