MLS Investing Built In Equity

[Nathan Frost]

Hi, I was wondering is there certain key fields or factors one can look at on the MLS to see if there is a good rental or investment property long term? I have access to the MLS locally and wanted to see if I can find some good deals. Do the following fields help finding good deals? Anyone ever do this?

Days on Market  (What is a good number for a good deal?)

Motivated Seller (Not sure how to tell)

Price reduction

Listed at or below Tax Appraisal

[Nicholas L.]

@Nathan Frost

I think that, unfortunately, the short answer is no. It's generally tough to find deals on the MLS, especially in today's market.

For example, in my experience, high DOM doesn't mean something is ripe for a deal... it means the seller is holding out for an unrealistic price.  And, I guess lots of price drops could mean something - but that of course depends on what the original price is.  If they're dropping from a too high price to a too high price... still not a deal.

You just have to go deal by deal / property by property.