Newbie vs Seasoned Investor

[Lue C.]

Hi,

Since I joined BP a week ago,  I've read lots of blogs and discussions, and listened to dozens of podcasts.  I am willing to do whatever it takes to get my first deal!

Here is my question - how does a newbie like myself compete with all these seasoned investors out there?

When a great deal presents itself, all investors (newbie and seasoned) want it.  The experienced investors who have done a lot of deals, likely have big cash reserve, know the market and numbers inside and out, and can flip the property quickly for less.  By the time a new investor like myself finishes analyzing the deal,  some big investor probably has already bought it with cash and started getting his/her resource lined up for rehab work.  You get the idea...

This is not an excuse for not trying.  I simply want to know what I need to do to give myself an edge over my competitors. Someone said, a good deal is not found - it's created.  What are your suggestions for being creative when looking for deals?  Should I focus more on the deals with marginal returns - those big investors pass on?

Thoughts?