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Updated over 18 years ago on . Most recent reply

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Deals to contract on MLS

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Posted

I've been looking through the MLS recently (off of a website, this is a public one) and am searching through by building. I'd like to start wholesaling apartment units because I am familiar in that market. By looking at the recent sold property I can figure out how much they would go for.

I want to offer 60-70% FMV value for these properties. Do I just talk to the realtor and say I want it for a discount? If the deal is good I can surely get funding, and close quickly. I know I'll get laughed out and booted out the door, but it's a numbers game right? Somebody must want to get rid of their place ASAP.

Trying to cover all the bases. It seems like getting the deal would be the hardest part. If you can get these deals then it sounds like you can "flip" it for FMV, or a bit below, and earn the equity spread.

Thank you for any answers.

(I'm located in Honolulu, HI)

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