Can you wholesale properties off the MLS

[Jamarr Lee]

Hello BP family, I have been hearing some people talk about wholesaling off of the Mls is that possible? I have a wife who is a realtor and I have access to her data if it is possible. Please give me some insight on how to if it is.

[Laura Alamery]

@Jamarr Lee

I have been using what I call "MLS Strategy" for over 20 years and it works.

Yes, it is a numbers' game, but some important points I keep in mind when looking for properties on the MLS:

• Usually I go after properties that have been listed on the MLS for 90+ days;
• I talk to the listing agent and get him/her on board before I send the contract over (why I am offering the price that I want to offer, low earnest deposit and I also let them keep both sides of the commission;)
• If the offer is rejected, I ask why - I have nothing to lose at that point. May be they are willing to wait a year or more (then I create a Lease Option) to get their full price or above. I know investors that approach the MLS and real estate agents and use the strategy of "Wholesaling Lease Options" on properties with sellers who want full market price.

Going after MLS properties and For Sale By Owner is the "low hanging fruit" of real estate investing. As you say, these people already want to sell!

Other great sources for sellers, especially in distressed situations, are public databases, like upcoming foreclosures, tax delinquent and probate.