Where are all the deals?

[Greg P.]

In my market there is definitely a shortage of properties right now that are priced so the rehabber can make a profit. For example, once a property goes on the MLS, by the time it gets listed, it has multiples and it's not a deal anymore. I've been hearing from fellow investors in my area the same thing. The buyers aren't buying as much and the rehabbers are having trouble finding deals. This isn't just REO's btw, it's shortsales, sheriff sale properties, etc. Sigh.. tough times..