Deals from MLS - Have you done many?

[Michael Murray]

Hey gang,

I'm wondering if people have done a lot of deals off of MLS and if they could share the numbers. I'm in the suburbs of northern Boston and it's tough to find anything that pencils out. I hear and read a lot about deals from off-market properties, wholesalers, etc but would love to see some analysis on MLS properties that were strong deals as well.

[Cynthia Nina-Soto]

Hey Michael Murray I'm not about pro at this, my husband and I actually just got started. I'm on my 3rd flip right now all from MLS but I will be glad to share my numbers with you. All have been full gut jobs. 1st deal was 14 Union Pl in Lynn. Purchased it for about $65k. We put $91k into it including carrying costs. Sold it for $229. Net profits after closing costs was about $65k. Took us a full 3months to complete the rehab and made every mistake in the book. Second flip was 7 Wendell Ave Brockton. Again this was a full gut rehab. Purchased for $62k we put another $71k in rehab and carrying costs and sold it for $195k. Net profits after closing costs was about $58k. Currently working on my 3rd flip in Lynn. This one I know that I over paid for it and do not expect to have profits like the first 2 projects. Feel free to check out what we did with each property. You can find them in the MLS. I hope this helps. I will say that I think it is getting harder and harder for me to find a good deal on the MLS. I have started to build my list by driving for dollars and connecting with some wholesalers in order to avoid the multiple offer situation.