My current realtor (a friend) has no experience with foreclosures, would I be better off with someone who has dealt with foreclosure or distressed properties?  

I am looking for distressed single family homes.

I am looking for distressed housing in Philadelphia and I was wondering what is a good rule of thumb when purchasing here. 

Start with a smaller property or find a distressed one and put in some time into renovating it.

If they offer over your own valuation, then you know they are the signs of a bubble and will soon fail.The smart equity groups have been buying distressed houses since 2011, so these guys are late to the game.

Do you happen to know if that was 12 hours of cold calling random home owners, or cold calling a more narrowed down list of possible leads...owners of distressed properties, absent owners, etc.

BRRRR works when you can buy at significant discounts through distressed properties.

HOWEVER, at this point in time and in this market, most sellers won't accept ANY low-ball offers unless they are simply nuts, uneducated, or in a really distressed situation.

@james masotti  It's so funny that you say that because we were just talking about the market turn yesterday at my local reia meeting and I was explaining like it is at  Its peak and about to turn so my plan is to flip this particular property as soon as possible just to create enough capital to then invest in a multi families because at least by doing that Having flow every month it will supplement the Down turn Because in my market that's pretty much what does make sense And yes it's a pretty nice area but I gotta say the deal is good due to the fact that we got a distressed property owner so it almost just fell into our laps 98 % hard work and positivity 2 % luck lol 

What I like about buying distressed units is the foreclosed unit owners abuse rarely effects anything structurally, in some cases it has no effect on the mechanicals either.