Finding deals from the MLS

[Ben M.]

Anyone having success finding deals from the MLS in Houston, Texas? There were a couple properties I wanted to submit an offer on. I always need to offer below the listing price for my numbers to work but it seems that everyone else seems to bid above the listing price so I am just not having any luck with this route... Thank you

[Mark Sewell]

@Frank Wong that is purely your perspective as a RE broker.  Not wrong, but why in the hell should any investor chase a deal, because the market is pushing the numbers too high?  Is the goal to win the bid or is the goal to actually make money investing?  

If they end up losing THAT deal to others making a higher offer, then that is OK.  99 out of 100 offers will be like that.  Your investor client only needs one to get accepted, but they also need to be prepared to make a ton of offers.  

The market is not telling me that I need to raise my offer.  The market is telling me that somebody else might be prepared to pay more -- which means that (a) this property does not work as an investment, or (b) some investor out there doesn't know what they are doing.