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Updated over 6 years ago on . Most recent reply

User Stats

211
Posts
174
Votes
Jackson Pontsler
  • Flipper/Rehabber
  • Salt Lake City, UT
174
Votes |
211
Posts

Flipping off the MLS is dead

Jackson Pontsler
  • Flipper/Rehabber
  • Salt Lake City, UT
Posted

Its has been almost a year since my wife and I committed to becoming flippers/rehabbers. Over that year I''ve attempted to follow Brandon Turner's advice regarding the MLS. Over this year I've discovered an unexpected problem of wholesale chaining. It has now become common place for wholesalers to come in and offer 25 - 35 k over the asking price and then quickly turn around a double close where they get a +20k commission. Funny enough I've seen his deals then come through here on the BP marketplace for another 10 - 15k increase from another individual #breakwholesalechain How do other rehabbers overcome this? The best conclusion I've seen is:

1. to way over bid the property then BRRRR strategy and pray you brake even

2.  Do my own marketing where I need to spend almost $2500 to potentially find a deal

As of right now I'm leaning to #2 but wanted to know how other rehabbers handle these situations?

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