MLS Offer Strategies

[Andreina Marquez]

Hey BPers,

Hope everyone is doing well! I want to ask for opinions on making MLS offers, and what strategy/criteria you consider best when going about it. I have been wholesaling for over a year now and for the most part have gotten my deals from direct mail and cold calling.

I've been listening to many podcasts and reading about fellow wholesalers killing it by solely making MLS offers. I consider this a great method because my time would be my biggest investment as opposed to the usual $2-3k in direct mail campaigns. I'd also say it's an easy method to automate later down the road with VAs and employees which is fantastic.

I'm planning on starting tomorrow, and I have everything set up but I want a last minute opinion on what criteria I should use for my "Hot Sheet" (New listings) that I will be going through to make my offers on. P.S. I am a licensed realtor with MLS access.

Currently this is my criteria: 

• Top 30 zip codes in my area. (Calculated with an excel sheet used to analyze the market, which I update every 6 months)
• Year built: before 2005.
• 2-4 bedrooms
• 1,000-1,800 sq ft
• All new listings that are coming on the market. 

I plan on going through these every 2-3 days and making offers on the ones that interest me the most. I have a goal of making 15-20 offers two times a week (total 30-40/week). 

I know Miami and South Florida is a very competitive and saturated market, but I'm a firm believer there is enough for everyone and whoever puts the work in gets their reward. I'm just wondering if my criteria is too broad. 

Would you consider I am on the right track? 

[Vonn Peterson]

@Andreina Marquez

I think the MLS is a treasure trove of opportunities. I agree to start the conversation with the listing agent as soon as it goes on the market.. but making a blind lowball offer without having seen the property at the start sometimes puts a bad taste in seller's and the agent's mouth.

I like having conversations with the listing agent and give them the rundown... that you are really interested in the property would love to put an offer in but that it would be low because....reason 1 (the property is really out of date ) reason 2 is a gut job) or reason xyz.. the listing agents know the deal with the property.I always have those conversations on the phone. Ask if they think the buyer would be receptive and if they say NO then ask if you could get a courtesy call if another offer comes in to have the opportunity to counter( they like this idea because it means the possibility of making MORE money) then I start my emails...

Just checking in on the listing at XYZ as I said on the phone I really like the XYZ neighborhood. do you have anything else you think I should look at?

next week another with a variation....

you can automated the drip I do BUT through google docs NOT a mailchimp like service... A. I get through and B looks like I wrote all my emails with personalization. 

I also start a IFTT alert for really hot properties,and I tend to work other MLS lists that I find are way more motivated.Inbox me if you want more info.

In grace and Gratitude,

vonn&andy