Non-MLS deal financing

[Jonathan Morrell]

The general consensus is that the best deals are found outside the MLS(and often times distressed), and this is a logical hypothesis. My question is, to those who have closed non-MLS deals, for the most part have these been financed through hard money or cash?

It seems like they most likely would be or what reason would a seller forgo listing on the MLS and getting the most he/she could?

For the purposes of this discussion, I am talking less 400k properties or close to that(ie not really large deals which wouldn't be eligibile for conventional financing anywyay

[Chris Mason]

We do financing of non-MLS deals all the time, and I'm not even a hard money guy.

It just needs to be a complete house with no glaring health/safety issues. If that means you gotta throw an oven in there to get sexy residential 30 year fixed rates instead of hard money 10%+ rates, throw a damn oven in there. 

That oven will have the best ROI of any other oven you ever purchase in your entire life. It'll be the treasure chest at the end of the rainbow of ovens. You will feel like the Wolf of Wall St guy when you calculate how much earnings ("a penny saved is a penny earned") you got out of that $350 oven.

Permanent heat source, same thing. Baseboard heaters that you install with a drill and 10 minutes of time are like $125 each on Amazon. Throw one in each bedroom. Best freaking ROI you will get in your entire life if it keeps you away from hard money, never again in your life will such cheap heaters do so much for your wallet.