Hi am a real estate agent and I work with investors I’ve seen distressed properties that I’ve hit up the owners and ask if they’re wanting to sell and they would say no not interested in selling and that’s it so I felt shut down right away I feel like hitting them up again a month later as the property still looks really distressed I’ve knocked on the doors nobody answers it’s in terrible condition the seller said last time that people do live there but it just needs gardening I said no problem you have my number if interested in selling. so like I said I want to try to reach out a month later but this time I want to say hey you know I have a cash buyer if you’re interested in selling.

She sent me a picture of a bath spout that looked like someone accidently knocked it down.

You could knock on doors,  "drive for dollars" method to look for empiy houses or FSBO signs,  look at Craigslists ads, do mailings, check or use local papers, go to real estate websites, go to local real estate clubs, etc..  

The best tip I have:  drive for dollars around each pre foreclosure house, door knock the rough looking houses around these houses. 

make sure you have enough reserves that one month doesn't knock you out. if your accounts are so tight that one missed or late payment will cause you to miss a mortgage, then do not auto pay.

If you're in a conventional loan and you put less than 10% down, if your house gains value in a couple years and you bring it to that 20% equity threshold or better, all you do is get an appraisal and knock off your PMI....can't do that with an FHA loan.

Just remember, you don't need to knock it out the park with your first deal - you're just trying to get in the game.

I know I likely wont see a whole lot of appreciation (if any) on properties in these areas but part of me feels like there is some real potential to make some money over a 10-15 year holding period, especially if I can knock $10-15k off the asking price.

I also knocked 100 off the rent per unit just to be extra safe.

Craigslist ads (post about twice a day and reply to every for rent post in your target area), Direct mail (send letters/post cards to every foreclosure filing in your county and then follow up with them again about 3 weeks before the foreclosure sale is set to happen), Drive for Dollars (when you see a house that is in need of repair, knock on the door, ask about the owner's plans).