My partner and I have been losing deals left and right as properties are being snatched up before we can get into the action. We have an agent working for us and we even call the listing agents as well, however it always seems the properties are already in contract or negotiations.
These properties are in a distressed area in Long Island, NY and we are calling on them legitimately the day they show up on MLS.
Any advice would be appreciated.
That is a bit odd. How is it the homes are under contract the day they hit mls? I think you might need a realtor to explain how that works. But my guess would be that it might be because the listing agent sometimes have a window they can market to their clients (5 day window in some cases) before putting on MLS.
What I would do is contact some of the bigger listing agents in town and ask to be added to their list. Ultimately, you want to find out about the house when all the other investors do. And the only way I can see them being under contract the day they hit MLS is if the listing agent put their listing out to their own client list during that period.
Otherwise, I don't see how a seller wouldn't wait a full day to see if they get any other offers first to get into a multiple bid process.
Its definitely tight though. But keep at it. It almost always opens up when you least expect it to. And when it does, you want to be able to grab as many as you can before it closes again.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.