All Forum Posts by: Aaron Crow

@Account Closed

Equity % is better (41%-100%)

It's under the Property Tab ... Below are the criteria for two lists. you can also do Free and Clear too.

Absentee Equity

40% equity or greater

7 Year Ownership

3-5 bedrooms

Single Family

No Corporate owned

No Trust owned

Equity Owner Occupied (65+)

40% equity or greater

10 Year Ownership

3-5 bedrooms

Single Family

No Corporate owned

No Trust owned

Owner is 65 years of age or older

I disagree with @John Larson about using the MLS to locate deals. He is right, in the sense that you don't find good deals because good or great deals are created not found. But, the MLS is a great platform you can use to identify properties and create good deals for yourself.

Before I had my RE license, I had my realtor pulled for me Vacant, Expired listings. These listings are usually overpriced which is why they did not sell. I then approached the owners directly via my direct mail (post card or letter) marketing campaign. I like direct mail because I only speak to sellers who are ready to deal instead of me making cold calls. Very few investors use this tactic and I don't know why. I have gotten deals using this strategy.       

Aaron, in today's market, if you are looking for good opportunities on the MLS you are going to have a tough time. Good deals really aren't on the MLS. You need to go to local REI meet ups and try to get in contact with some good wholesalers and other that have access to pocket listings. I stopped buying on the MLS in Dallas 2 years ago.

The market is healthy in the entire nation if you are looking in good neighborhoods. You might be able to find some deals in distressed areas that no one wants to live in but aside from that it is going to be difficult.

I can occasionally find a decent retail flip opportunity on the MLS but I need to be ready to offer in it immediately or it's gone. Properties that make sense for a cash flow rental model are really hard to find.