When we first got started, we shopped for deals anywhere and everywhere. Three of four days a week we would spend the morning or late at night looking at about ten houses. After a day of searching, we’d get back and write 4-5 offers. Every distressed property we saw, we’d call the agent, keep track of it and get excited about a potential lead.
After four months of this, we still had 0 accepted offers, and any properties that where legitmate deals seemed to get full price, or above full price offers and be locked up already.
After that we decided to focus on a specific area, about a 10-mile circle. This made our life much easier:
Occasionally, we will still buy good deals in other areas. But since we are not actively looking those deals generally find us.
We have our MLS search setup to email us daily of any new/changed listings, in our farm, that meet our requirements. This allows us to make our list of daily properties to go look at, see what prices are doing and check-out our price competition for our existing properties.