You can find fixer upper homes on this website. They have a bunch of foreclosed homes which quite a few need fixing up.

HI!! My advice would be to contact a REALTOR in the area you are looking and ask for the best deal they have!!! Realtor's know who is looking to see, thinking of selling, and might sell, if the price was right!!
Good luck!!
Suzanne Whealan http://www.propertiesseller.com

I'd suggest the best way is to drive a neighborhood and see the ugliest house on the block. Then leave a hand written note that says "My wife and I are looking to buy a house in this neighborhood and yours looks cute from the outside. Do you know anyone who wants to sell?" That works a lot!

If you don't have the sand to try that, then hire a realtor.

Your best bet is to have a REALTOR assist you in looking for homes that may have been on the market for a considerable time. There are two good reasons for this theory. One is that often they need just a cosmetic face-lift and many buyers were not able to look past that point. The second, is that, the seller may be tired of holding the property and is willing to be a little more flexible in terms of negotiating a good price, leaving room for profit.
Another avenue is foreclosures, which too often need cosmetic work and the bank is willing to let it go for a lot less than the fair market value.
These opportunities exist throughout the area and with a little guidance; you should have no problem, finding a good investment. I would enjoy the opportunity to assist.

One of the best things to do is find an "ugly house" with good bones. Have an agent do a search for homes that have a much lower price/sf than other homes that have sold in the neighborhood.

In Raleigh, there are a couple of neighborhoods downtown that people are just begining to flip with great results.

You can also pick up tax foreclosures at your County Courthouse.

Just beware - if it's a historic foreclosure, you really should get an inspection before submitting an offer!

Good luck!

Take a look at wWilmington. There is a very large historic area with lots of great old homes.

http://wilmington-northcarolinarealestate.com/

You want to drive your neighborhood to look for the homes that need roof repair. Another sign is overgrown lawns! Yet another source is a house for lease that has been vacant for a long time! If you have not thought of theses things on your own then you are better off consulting a local REALTOR. There is no easy way to go about finding a "fixer upper house".

Even in a strong buyers market, there are buyers on the hunt for the bargain. So, you will have competition when searching for the rehab oppty. Work with a Realtor who understands your goals and will work w/ you to achieve them. Define what types of properties meet your criteria, including area and price range. It will be more difficult for a Realtor to help you if you simply want "a good deal" and it can be 'anywhere.'

It will be worthwile for you to also search on your own. Sign up for email updates from automatic listing notifications. Most agents will be able to set this up for you. Comb through the listings looking for the buzz words that fit. Ruth gave you a good start and some examples in her post.

Look also at houses which have been on the market for a while, or expired without a contract. If the buyers didn't move on these, it might be because of price or condition.

Local realtors are the best resource for finding property. As a buyer, it does not cost you any extra to use a Realtor. Actually, facts prove there are less problem incurred and more problems avoided if you use a Realtor. I can get you the names and contact info for some in Raleigh if you would like. Contact me through my website if you want some contacts. http://www.mortgagesfrombill.com

My best bet was always through estate sales and Craig's list before I got my real estate license. Now I find them on the MLS, especially the foreclosures.

Your best bet is to find an agent that works with investors. He or she can help you find the right property at the level of work that you want to do to it.

Good luck and since you are in my area, I would be happy to work with you.

Good answers by Ruth and Perry. You could run an ad stating you are looking for investment property. You should get some calls on the ad. Sellers are eager to find buyers. They will be looking everywhere for you!

I love to run ads or look for ads for foundation repair. You seem to always get the best deals.

You want to search descriptions for key words such as "TLC", "well-maintained", "rehabbers and investors", "sweat equity", "as-is" and of course "fixer upper". Just be very careful knowing what your getting into if you are considering an "as-is" home. The term "well-maintained" often means "out dated". Everything works but it looks like grandma has lived there for 50 years.
Good luck,
Ruth