I have been submitting literally 100 offers per month and I have been having a lot of success in two different areas-out of town owners and banks. First of all the area I have been investing in is trending upward. Values are steadily rising. So my only logic is this-the out of state owners are letting properties go cheap because of the media reports in their area not the area where their property is for sale. The two properties I have bought recently from out of town owners were bought the first week they were listed at between 50% and 70% of PRESENT value! One I am renting out and the other I am going to flip. The bank foreclosures I have been buying have also been going very well. I like to pick on them because they are not attached to the homes and they are not offended by the low offers. Here is what I have found...foreclosures in my area are usually listed at about 90% of actual value if they are in good shape, so I have been offering 20%-30% below that price. I am finding out that in almost every case an 80% offer is getting accepted without hesitation, except for HUD homes and I can always buy those for guaranteed 93% of listed value. What is cool is that this is the best time of the year for a seller to sell, so if you get a steal right now you know it is only going to get better within a couple of months when schools starts again. My advice is this "start bullying these banks around!"
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!