Tough to find deals right now?

[Philip Klinck]

I have done more marketing than I have ever done recently and gotten no deals. Is it tough finding deals right now for anyone else? I know exactly who to whole-sell to and have about 140k to buy with myself. But, I am either coming across ridiculously high priced stuff and many less calls than usual per the amount of marketing done. 

[Jay Hinrichs]

@Philip Klinck  real estate cycles its never the same..

the melt down create unprecedented buying opportunities that many who were new to the industry took as normal... and now when markets correct and normalize they look at things as tough or too high priced etc.. when in fact this is what most investors who own property want to see.. Strengthening of values.. and assets that are well sought after.. No one invests in RE.. for the purpose of assets declining in  value or illiquid or very hard to sell.. ( expect those that play in the war zones)

So if you really think about it.. BP came on line at or about the crash... Real estate investing techniques became the fodder on Webinars  pitchmen , BP  postings and other on line communities ergo taking a very large swath of folks that in previous decades would have never considered RE as a way to make money.  So you have an inordinate amount of people try to get into the business based on these free online pump and dump sites and communities..

So the competition for deals gets crazy by all the first timers that will flame out and never do a deal but that does not make it better for those that do it for a living your constantly competing against someone with a 2k limit on their credit card and can hang on sites like this to get just enough knowledge to try to become a RE investor..

so in essence the market the interenet the desire to make a bunch of money because there is some illusion that RE is the way to rich's and lying on the beach.. has created the hordes all doing the same thing.

We see this is the courthouse steps buying activity on the West coast every Tom Dick and Harry that can scrap up 200 to 300k in cash ( and there are Many) decide they want to buy foreclosures.. they show up to auction run properties up to a value that makes 0 sense buy it.. and never come back because they lost money or what have you.. and right when you think you got rid of those folks 5 more replace them... same thing is happening when your in the wholesaling business or distressed asset business. BP is pumping out your competition at a rate that exceeds the deals.. LOL. 

at least that's the way I see it.