If i have realtor sending me listings on non bank owned mls listing can i wholesale her deals or do they have to be reos…?? How does she fit into to the deal the mls? Just have her submit my offer just like a reo?
If you can buy them for less than 65 or 70% of market value you can wholesale any property. Real estate is not much different than any commodity. You buy at distributor prices and wholesale to sellers who then sell to users. Sometimes the sellers keep them for their own use.
The problem with non distressed properties, especially ones on the MLS, is that you usually can’t get much of a bargain. If you are going to wholesale you need to buy distress properties like foreclosures. You need to buy pre-foreclosures, at the auction or when they become bank owned (REO) generally speaking.
Good luck,
donrock