Use the MLS to Find Properties for Wholesale, Buy & Hold, & Fix & Flip

How to Use the MLS to Find Properties for Wholesale, Buy & Hold and Fix & Flip

The MLS is a valuable tool for real estate investors once you understand how to put it to work for you. In fact, the MLS is the perfect tool to help you create and manage a virtual real estate investing business. With the ever-changing restrictions and requirements for in-person interactions, the MLS offers reliable online information to help you find and close deals.

MLS stands for Multiple Listing Service. It is the largest database of current property listings. The MLS provides all the details about a property, including price, days on market, location, price history, property features and more. Both buyers and seller benefit from the MLS.

How to Use the MLS for Real Estate Investing

While the MLS method isn’t difficult to learn, we’ve streamlined the process for the best results. The key is to use the search function to find properties that best meet your criteria for investment properties.

For example, you can search properties in a specific zip code, price range and days on the market. This helps narrow your options and locate active properties quicker and easier. You decide what criteria work best depending on the type of investment you are seeking.

Using the MLS for Investments:

• Find properties on the MLS that match your individual criteria
• Contact the listing agent to explain the benefits of working with an investor
• Create a contract with all the details for the deal
• Connect with buyers to take over the contract for wholesale deals
• Close the wholesale deal for a profit, or follow through on your buy & hold or fix & flip strategy

Smart investors learn how to effectively use the tools available to increase productivity for your investment business. The MLS offers one way to make finding deals more efficient.

Benefits of Using the MLS for Real Estate Investing

The greatest benefit of investing using the MLS is the numerous properties you’ll discover that match your investment strategy. By finding properties in one place, you can cut down on the time you spend searching for potential properties.

Also, the MLS method works for all types of investments, including wholesale, buy and hold and fix and flip. If you want to make cash quick with a wholesale deal, look for properties that have been on the market for a long period of time. If you want a buy and hold investment to rent out, look for properties in specific zip codes and in a certain price range.

The MLS is easy to use for virtual real estate investing. Regardless of current COVID-19 restrictions or your geographic location, the MLS online real estate tool lets you discover new properties from anywhere.

For new investors, the MLS cuts through the clutter to give you a one-stop-shop for available real estate. Wholesaling is a great way to enter real estate investing, and the MLS works wonderfully as a wholesale tool. Increase your confidence rapidly by using the best tools available to grow your business.

How We Discovered the MLS Method

Back in 1995, my mom and business partner, Laura Alamery, discovered the MLS as an investment tool. She needed to sell some rental properties fast before an out-of-state move. She was surprised by how quickly the properties sold. This uncovered the high market demand for quality rental properties.

She got the idea to use the MLS to find properties to wholesale. She searched within specific zip codes for properties with a high number of days on the market. Lots of properties came up. After reviewing the list for the best potential wholesale deals, she sent contracts out to the listing agents at a low price. She received some rejections but also received accepted offers. This lightbulb moment led to many successful deals.

Over the years, we’ve worked together to improve and perfect this method. When combined with the other keys to fruitful real estate investing, like solid communication and quality relationships, the MLS method took our business to the next level.

The main challenge with the MLS method for investors is to learn how to explain the benefits to the buyer. Both the buyer and the seller benefit which makes the MLS one of the best kept secrets in real estate investing.

Invest in the MLS

Use the MLS for your real estate investing business. Take the time to research and learn about this exciting tool to help your business grow. Whether you want an easy way to find properties for wholesale deals or want to increase your rental property portfolio, the MLS produces more potential properties to consider.