Finding deals outside of the MLS

[Tyler Carpenter]

Ive heard it time and time again that the real estate deals that are the real good ones, are not found on the MLS. What my questions to all the investors of biggerpockets is where have you found to be the best ways in finding properties outside of the mls? Courthouse? Marketing yourself with local investors? etc.. Im trying to see if I can get get peoples advice on where to find them and maybe if someone around the local chicago area would be able to give me pointers on marketing myself better. Any information is helpful and much appreciated.

[Will Barnard]

Step one - do your reasearch to find out who is actually a top REO broker.
How do you do that you ask? Many ways, here are 2. Go to several of the bank websites and find their REO properties. Once at their list, scroll down to find homes in your area. When you see the same agent pop up over and over, good chance that agent is a top one.
2. Calling on MLS REO properties and "interviewing" agents. This takes practice as you must make sure to come across as a confident and knowledeable investor. Your intent is not so much to get info on the home you are calling about (that is just the opener for conversation) but to have the opportunity to ask them how many REO listings they currently have, how many they had 12 months ago, etc.

Once you have found an agent/broker who handles a lot of REO proeprties, you need to get them to like you. You need to be able to talk the talk and then back it up. Relationships do not happen over night. They must be nutured!