So that is why we concentrate on marketing directly to NON-Listed preforeclosures.....there is not much competition!

People always talk about there being too much competition for REOs, but these listings will not be getting much activity - because they are over priced.

The key for success on those properties is to spend 3k-5k extra and make them better than the competition... 

They are also (unsurprisingly) the homes with the highest demand and most competition.

Plus, no matter how good your agent (or anybody you are working with) is, they tend to get complacent if they dont have at least a little competition.

However, there's much more competition from other investors up here.

We can't really do 70% rule here due to competition or else we'll never be able to acquire any properties.

Here's a blog post I wrote that gives you a couple tips on how to be successful as a wholesaler:http://www.biggerpockets.com/blogs/4430/blog_posts/32194-attention-wholesalers-2-ways-to-stand-out-from-your-competition

My market is ultra competitive and I find that getting sellers to take six figure haircuts is much harder to do than in other markets where the haircuts are five figures or less.

I think unless you are in an incredibly hot market offering a home for lower then the competition this many hurdles will lead to longer vacancy.I am not opposed to hurdles to screen out the unmotivated ones but this is a large amount of hoops that will definitely lead to decreased demand.It is a trade off.Your life is easier & you have much more timeButYour rentals will be empty longer.