HEY GUYS…IM A NEWBIE AT THIS WHOLESALING BUSINESS LOOKING FOR SOME INSIGHTS.
I HAVE A REAL ESTATE AGENT FRIEND HERE IN NEW YORK WHO IS LETTING ME USE HIS MLS INFO.
I JUST WANTED TO KNOW HOW I CAN USE THAT TO MY ADVANTAGE IN THIS WHOLESALING BUSINESS?
Plenty of investors like looking up properties and leads on MLS, I like using it mostly to run comps.
As long as you know your market and the average prices for each real estate category, then you can find some good deals on the MLS. Unfortunately, as the market is rebounding, prices are on the rise and REO properties are no longer priced dirt cheap so the profitability margin is decreasing.
Often the best deals are still found outside of the MLS.
If I have a MLS login from a family member whos a realtor is the MLS limited to the county? Thats what Ive been told. Or can you go to any local MLS nationwide with one login?
You can use the MLS for so many things. Me myself I generally use the MLS to run comps. One of the things you can do is exploit the MLS for cash buyers and find a way to add them to your database, as well as figuring out where all of your hot zones are.
Hot zones are the areas where the most cash transactions are within the past 90 days. Find out what those areas are and attack em’ like a hound. Get with your Realtor on this he should have a way to run a search for this specific criteria.
Kuddos to your journey. Hope this helps :smile