BRRR in Newark Irvington and East orange NJ July 2020 possible?

[Eli Gur]

Hi everybody,I am looking for fix and hold Multi family, in the Newark Irvington and East orange NJ areas,

My focus is to do the BRRR strategy, to fix it up and get back my money by the refinance.

I am searching on Zillow Trulia Redfin Realtor Etc., and calling everyday lots of listing agents and buyers agents for on market and off market deals,

All on market properties goes under contract for much more of the asking price with no room for my goal. 

The answer from everyone is:  "Sorry, this kind of deals does not exist in these days anymore".

I am doing this for the last few months with no results...

Some agents are telling me to wait a few months for new bank owned properties,

Is that the truth?  or there is any other way to find these deals? 

Or I just need to change my focus and stay inside with sitting cash? 

Any help from my BP friends here will be greatly appreciated!

Thank you to all of you!