Hurting for work

[Jeffrey K.]

I work in three zip codes (53202, 53211, and the expensive part of 53212). I can not find any deals. Sellers and banks have crawled under rocks. I am looking through my files from the last few years cold calling all the people I have had contact with in the past. Any other landlords having problems finding rentals? Where are all these REOs I hear about? I did 10 deals in the last year, but none of them were in the last 6 months. Very strange. Cant find anyone to take my cash in my area!

[Bryan Balk]

The banks are holding back some of the inventory. I think a lot of new investors are getting into the game with a buy and hold strategy. With rates and pricing at historic lows you can't really blame them. That means they can often pay more for a house than a flipper. The front end (Reo pricing) seems to be going up while the bank end ( retail pricing) seems to be going down.