pre-qualifying MLS deals

[Jordan Solomon]

Is there any way to pre-qualify MLS deals? That is, I know that with properties you find from direct mail, online marketing, etc., the idea is to first speak to the seller over the phone and determine if it's worth going out to see the house. But with a listed property, it sounds like I can't speak to the seller directly. That being the case, is the only way to figure out if it's a possible deal or not to go with the agent to visit every property you're interested in? Just seems like that could be a lot of wasted time (for both me and the agent, not to mention the sellers). Thanks!

[CK Hwang]

@Jordan Solomon , the way I sift out MLS deals is to look at the pictures first. Then look at the age of the house. This normally gives a rough idea of what the rehab costs is going to be. I almost never ever talk to the seller for a house on the MLS. Ask any owner the condition and 99% of them will think their house is worth more than it is.

I will enter the numbers into my spreadsheet, if it makes sense, i will go look at it. If there is a open house, I'll just go to the open house, if there isn't, I'll get the realtor I work with to open the door. 

Especially when it comes to the MLS, I'm not really sure there is a way to get away from seeing tons of houses and making lots and lots of offers since it's hard to find and secure a good deal off the MLS.

When you're first starting out, just drive, there is going to be wasted time and gas, but that is part of the learning process. If you work with a realtor, make sure he/she knows what they are getting into, but I find a good realtor an essential part of the team. When you're first starting out, you'll need them to help you with ARVs and specific knowledge about neighborhoods.

Many realtors will tell you straight off the bat that they don't want to work with investors because of all the offers and driving they have to do. The realtor that handles my buys might go for 6 months within nothing (of course I feel bad, but what can we do right?), looking at dozens of houses, then we will have a good month and it will be all worth it.