Yellow Letters were a great tool, but unfortunately they have been over used by all the seminar newbies. Working with a Realtor or finding them on your own can be much easier depending on the market your trying to purchase in. I prefer mid Western and South Eastern states to have multiple advantages. Since 2013 and on there have been so many seminars, webinars and gurus hosting some form of education has created more Real Estate Investors than ever before. The only advantage I have tapped into is working with Large Funds groups who have purchasing power in large quantities. The REO market is nearly tapped, and unless you have 200 million in funds you can not purchase at the desired 50% - 65% below current market value. There are still a few needles in the haystack of private sellers, but they are getting harder to find. One huge disadvantage to private 1 off sellers is that they are aware of the countless Investors trying to break into the market, and they are insisting that their properties are worth market value when in actuality they are not. HUD,Fannie Mae and Freddie Mac have many homes at market value, but you can negotiate with them to get your price. I do find bulk sellers who occasionally will sell a few out of their package at a time (cherry picking).
