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Updated over 8 years ago on . Most recent reply

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Peter Kim
  • Investor
  • Nashville, TN
0
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15
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Reliable and accurate database

Peter Kim
  • Investor
  • Nashville, TN
Posted

I'm sure one day I'll look at this post and laugh at my ignorance, but as of now I need your guy's help. 

The only source of "accurate" information on real estate properties I've used is Zillow. I've seen too many properties that are under priced for the location and once I speak with the owner directly, the monthly mortgage is a few hundred dollars higher etc, etc. 

What are the most reliable and accurate mass databases for on sale properties?

Thank you everyone!

Most Popular Reply

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317
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Paul Winka
  • Rental Property Investor
  • St Louis, MO
72
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317
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Paul Winka
  • Rental Property Investor
  • St Louis, MO
Replied

@Peter Kim

The Multiple Listing Service (MLS) is where on-market properties are listed for sale that has reliable way of keeping track of data, like days on market, initial price, price drops, etc. Other than that, it's mostly all scrambled, such as what you can find on Craigslist.

To see the MLS firsthand, you would have to get a real estate license and then pay the local company that operates the MLS the fee to access it, probably around $3K for the first year (one year of fees, some of them one-time, some recurring) to do all that. Or you could have a real estate agent get the data for you, but you might quickly become a thorn in his/her side if you are a detail-oriented type-A person to ask about the intricacies of different properties. IMHO, if you are in this for the long haul, pony up the $$$ and get a real estate license and get access to the MLS. It's not just about having the license and MLS access, but also faster rate you'll make valuable contacts to make doing business easier.

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