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Updated about 2 years ago on . Most recent reply
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Best places to find off market deals?
I'm fairly new to BP and trying to find my first deal. I keep coming across people saying to try and find an off market deal. Where is the best place to find off market deals? Are there any sites that have off market deals?
I keep coming across people saying to ask wholesalers. Well, where do wholesalers find their deals?
I tried to use the off market deal finder here on BP and I can't figure it out for the life of me. I'm a pro member so I have no idea why it's not working for me...
If my location makes a difference I live in the middle between worcester and boston, ma.
Most Popular Reply
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@Jourdan Mercer if you are looking for off market deals in Worcester, They are mostly with the agents. I have buyers who are searching for bigger properties and when they find one they have to unload smaller stuff right away. There is a constant stream of off market stuff that is just about to be sold. Additionally, the way the market is now, agents reach out prior to listing properties on the MLS. They would rather have a guaranteed sale than put things on the MLS and let them sit, even if they get less money. This allows you to negotiate on price, terms and timing which are very hard to do with an MLS property. Find yourself a good multifamily agent who does 10 or more multis a year and they will have a constant deal flow. We typically know of 10-20 off market properties at any given time that can be sold. If you like one, then they will agree and go shopping for something bigger. When you look at the MLS you will often see properties that are there, priced appropriately that don't sell, or drop in price. This is often because they are looking to 1031 exchange these properties so they want the best buyer at the best time. Best of luck with your search!