The recent influx of foreclosures and distressed properties creates a wonderful opportunity for investors. However, to find great deals on real estate, you can’t have a few on your plate every other day. Instead, use these seven tips to keep deals flooding your desktop:

1. Connect with many agents

When properties go into foreclosure, they often end up as real estate ownership (REO). Agents who deal with these types of properties are your closest allies. Don’t work with just one. Instead, create a list of local REO agents. Take some time to meet with them and establish a good working relationship. Let them know what you are looking for; you will find that they will do much of the hard work for you.

2. Work with asset managers

Asset managers can notify you of potential properties before they hit multiple listing services. Some of these deals are just too good to pass up! And if you can quickly close these great deals, the bank will keep feeding you more and more.

3. Market to Local Individuals

While they may not be in foreclosure, there are plenty of families experiencing financial hardship who would love to sell their home. Don’t be afraid to spend some money on a solid marketing plan aimed at these struggling homeowners. These people are looking to sell for what they can get, and you can find some profitable bargains by negotiating one-on-one with the seller.

4. Go to the Palace of Justice

There is very little competition in real estate homes that have not yet come to multiple listing services. While you can’t do a thorough inspection inside the house, you can find some great deals if you shop on the courthouse steps.

5. Homes sold by owners

Since the owner does not pay a real estate agent to sell their home, these types of sales can present great negotiation opportunities. They are not listed and do not get as much activity as houses on multiple listing services. At first, the owner may not be ready to honor your low price. However, keep in touch and see if you are willing to negotiate later.

6. Look for ads and respond quickly

Motivated sellers advertise their homes in as many places as possible. Check the ads in your local newspaper or other publications. You can also find listings on social networking websites, online home listing websites, and even on Craigslist. Check these ads daily and respond as quickly as possible to secure the best deals.

7. Tell your friends and family about your investments

As with any type of business, word of mouth is one of the most effective means of gaining customers. Let your friends and family know that you’re looking for great deals on real estate. Ask them to let you know when they or their friends are selling houses, especially if the price is low. Investors find many of your best deals through word of mouth!