Wholesale Deals from MLS

[Tua Toiaivao]

I've heard many BP podcast guests say they get a big chunk of their wholesale deals from the MLS. How have you done this?

I've scoured the MLS for about 8 wks now and found several "potentials", however I'm not finding any success yet in striking deals via this method. Tell me where I might be going astray or what I could be missing:

step 1) Find the deal. I've found most great deals only last a few days (if that) once it hits the MLS

step 2) Comp it out. I try to stick to 60% ARV. Too low? Too high? Ex: if it comps at $200k, listed at $179, I'll offer $120-130k

Step 3) Call the listing agent.  I'm trying to establish some rapport with agents while also finding more about the property and sellers.

(sidenote:  i can't believe how much agents are listing these trashed or severely outdated homes for...but i guess they sell??)

Step 4) Send the offer.

Results:  nada.  The agents don't even return my email or text me to say the seller rejected it.  No counter, no nothing.  I've sent about 10 offers to date.  What can I do better?