Why We Never Buy Properties Listed on The MLS

If you’re looking for investing opportunities, you’d think the MLS is the right place to find them. Hundreds of properties and motivated sellers at your fingertips, and as an agent, you have front row access.   Well, that’s not the case…   Relying on the MLS to find deals might just be the worst way to run an investing business, especially in this market. While some people can certainly find great opportunities on the retail market, those are extreme rare cases. Seasoned investors looking to build a predictable, reliable business go off-market.   Why is the MLS the last place we go looking for deals? Are there cases where MLS properties can work in our favor?   In this episode, I answer a question I get asked constantly: why we don’t buy MLS properties.   The odds of you getting a great deal on the MLS are far less than if you were to get it off-market. -Tom Cafarella   Three Things You’ll Learn In This Episode   -Two ponds, two different results   You might think the MLS and the off-market are similar. What’s the difference between the two?    -Why it’s hard to get a discount on the MLS  Properties off the MLS definitely don’t work for flips and quick turn deals, but what if you want to do a long-term buy and hold?   -The secret competitor you’re not aware of  If an MLS property needs a ton of work, does that make it a great investment deal?