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Updated about 11 years ago on .

User Stats

93
Posts
23
Votes
David Jacques
  • Professional
  • Baltimore, MD
23
Votes |
93
Posts

Method I used to find deals

David Jacques
  • Professional
  • Baltimore, MD
Posted

Way back when I was pounding the pavement looking for deals, one of the tricks, so to speak, that I used works if you have access to the actual mls in your area (not Redfin, zillow, etc) but the website that real estate agents use to upload listings.

Define an area that you want to invest in then then search for listings that are improperly labeled (i.e. The property is 123 S. Main Street but entered into the mls as 123 N. Main Street). It happens more often that you would think, particularly with foreclosures and other investor grade homes if the agent doesn't have any particular incentive to review their listings.

It requires a solid working knowledge of the area but one realtors mistake is extra profit in your pocket. In Baltimore, a south versus north location can be a colossal difference. Because many of the homes look similar in Baltimore, an investor could very easily pass over a deal that is in a prime area because it's simply mislabeled.