Updated about 9 years ago on . Most recent reply
MLS PROPERTIES
So I recently just got access to the MLS in NY and I am looking for properties to wholesale. I honestly can't even find any rehab properties. Is there something I'm searching or doing wrong? I see and have read others make a killing on the MLS
Advice or feedback would be appreciated, thank you!
Most Popular Reply
In general, the MLS is a TERRIBLE place to find wholesale deals. If people have gone to the trouble to put their property on the MLS, they are generally not going to take the kind of steep discount you are going to need as a wholesaler.
The way most wholesalers find motivated sellers is by marketing such as direct mail, craigslist ads, driving for dollars, etc.
I don't know who these people are who are "killing it" on the MLS as wholesalers, but I don't know a single wholesaler who is using the MLS for deals on a consistent basis.
The one place I could see maybe making the MLS work is looking at expired listings that didn't sell. These are people who might be looking to make a deal at a low selling price, but there are so many realtors who pounce on these as well, that you probably have quite a bit of competition.