Finding "OFF" Market Deals vs "ON" MLS. Which Is Better?
Finding deals is the lifeblood of the real estate business and the key to being a successful real estate investor. What challenges are you running into that are preventing you from getting deals? Is it with formulating offers or marketing? I’d love to hear! Drop that in the comments, and share.
We're building passive income streams through real estate. I’m here to continuously help you grow and go through the process. You have off-market deals and you got on-market deals. We have been blessed, we've been able to work both. One of the things that you're going to look at and see is if you want to have multiple strategies and approaches to bring good deals. In case one dries up, you still have other irons in the fire.
On-market Deals
I love on-market deals because we're able to go direct to the seller, we move fast and speedily. I know my zip codes and I know our price per square foot. I can look at a house via the pictures and get enough to make a decision. Close enough to where my budget will be in order to make the offer and then get it under contract. I’ll send my contractor and then verify and just make sure there's nothing else that is overlooked.
On-market sources/strategies:
- Multiple Listing Service
- Agents and Brokers
- Wholesalers
- Property Auctions
- Online resources/sites
- Social Media
Off-market Deals
But off-market deals are great because there is less competition. You don't have to move fast. But you do need to still move with speed. As you're talking to somebody, another offer could probably be coming through from another investor. So you can't take that for granted. You have to be on the spot to move expeditiously to get things going and make decisions. And that's where the knowledge helps you move with speed where you can take action, and you can get deals under contract.
Off-market sources/strategies:
- Driving For Dollars
- Public Records
- Networking and Facebook Groups
- Personal Branding
- Direct Mail
- Marketing
- Bandit Signs
- Google Ads
There are many ways to find deals! And yes, even beyond the MLS! I'm a little biased. I like both strategies. So I can go with on-market leads and off-market. But you got to just pick something and do it and get good at it at the end of the day.
If a deal is in range and so are you!
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