In my experience working with investors the best deals are not listed - word of mouth, foreclosure auction, etc.  I have done some door knocking, calling & letter writing on unlisted properties in the past too.  -Kasey

I have heard of just about every agressive approach that the investment gurus have pitched but my feeling is that the harder you work to whoo them the less leverage you have.

The best investments are often those who overpriced to start with, and are now stale and desperate for a buyer.

But it is important to always be scanning the markets to see what is available, some great deals are found by being the first to notice and take action when they hit the market.

Or the first to notice an attractive attribute, like exceptional timber value, and then utilize that attribute.

Nathan,

We had a list of investors we worked with.  Every property we sold to them was not listed.  If it was listed it was not a good deal and did not have sufficient upside potential.  We actually knocked on doors and talked to people daily.  It is much easier in commercial real estate to do that.  If someone was willing to sell, we signed a one party exclusive or exclusive agency.  Then we made the call.  A 

Trustee sales (foreclosure auctions at the courthouse steps) are a good source for investment properties in our area.

There are many sources to find properties.

Identify properties you want, research the owners, contact them.   

(Just about anything in the MLS, or listed by Commercial Brokers, won't have a decent ROI).

I have a fix and flip invenster, most people at my board brings sorry properties to be because they put them on the market they are that bad.

I actively seek them with my Instant Inventory method.

Good properties are getting harder and harder to find.  Most in the MLS turn into cattle calls and go for close to retail.  Same with foreclosures.  I blame the US government and Chinese funded companies like Blackstone that bought up everything in sight, regardless of price, to turn into rental backed securities.  When you get a couple billion from uncle sam, you don't need to have a margin.  When you have several hundred homes getting high rents and 100% profit, you don't care about purchase price.

The courthouse steps foreclosure auctions are one avenue if you are willing to buy sight unseen, all cash.  The deals are harder to get now that there arnet as many a 7 years ago, but they are still there.  You just have to be willing to take the risk of what you find in there... like the prior owner who wont leave or let you in, damage, etc. 

I am constatnly getting mailing for my out of state rental properties of buyers who will buy with no closing costs, agents, etc. so im sure those work too.

I would actively be seeking opportunities. 

IMO Depends on the investor, level of experience and market focus - I work with quite a few investors and each have different ways of scouting and looking for properties - often turning to me for the sale/closing

If it hits MLS it is too late, the best deals are the ones i seek out

I get calls almost everyday. Cash ready up to 4M with a revoling account....

Some say pocket listing only. The eMail type wants 75% on a dollar after rehab and closing cost.  One told me he makes offers on 100s properties a month and is authroized to do so.  They get the source from hard money which means zero down pratically.  When cornered he says the llc made him to low ball and he gets $12 an hour + bonus if he gets one accepted.

Sphere of influence and networking! Direct email is ineffective for established investor owners.

Direct mail and sphere of influence

Many of the investors I know pay agents well $$$ to bring them deals

I am not an investor. I sell to investors and we use mls as our primary tool.

I seel those off the MLS with builders and I build my own investment homes in Oklahoma

Work with local agents who know market

I keep an eye open and an ear to the ground. MLS also has good deals so it takes some of all of it.

when I was searching for investment properties, I did direct mail marketing and direct sales.... 

Nathan - Good deals are difficult to find. You can't wait until a listing hits the MLS, gotta either direct mail or door knock to find people interested in selling.

Some of our investors are going to the courthouse in hopes of purchasing through those sales.

We make the phone ring.  Give people a reason to call us about selling their house.  And we send out 10,000 mailers a week.

Real investors will have Realtors they work with and keep their eyes and ears open.  Wannabe investors always look at Craigslist and Zillow.

This is a tough one, since we are far removed from a Buyers' Market.

I've seen some letters from some proclaiming to be investors who turn out to be nothing more than charlatans attempting a new way to get in the door to list the property...

Nathan Gesner some of them are part of MLS and some, fixer upper while driving around.

My investor clients lean on me to find then properties

I keep my ears to the ground and search for aging MLS listings - they're the ones that are often ready to bargain with investors!