New to Real Estate · Columbia, SC · Member since 2024 · 2 posts · 2 votes
Hello all! I've been reading and listening to a lot of investing media, and it seems there is a large emphasis on finding and doing deals on off-market properties. So my question is, is it "bad" to just find deals via MLS or another way, that are on-market? I'm aware of the 70% and 1% rules when it comes to value you get from what you put in and what you get out, but aside from possibly finding some better deals off market, why does it seem to be taboo to go publicly listed properties?
Investor · Cleveland, OH · Member since 2013 · 120 posts · 77 votes
1y
I don’t think it’s bad thing to find deals on the mls however the key point it has to be a deal. The mls get a ton an action which breeds “stiff competition” I think most sound investors are trying to stay away from bidding wars which can occur when bidding on properties listed on the mls.
Investor · Cleveland, OH · Member since 2013 · 120 posts · 77 votes
1y
I don’t think it’s bad thing to find deals on the mls however the key point it has to be a deal. The mls get a ton an action which breeds “stiff competition” I think most sound investors are trying to stay away from bidding wars which can occur when bidding on properties listed on the mls.
New to Real Estate · Miami, FL · Member since 2024 · 1k+ posts · 441 votes
1y
Reese, buying on-market isn’t bad at all, it’s just more competitive. Off-market deals are preferred because they often come with less competition and more negotiation room, which can lead to deeper discounts. That said, if the numbers work, a deal is a deal—on or off market. Let me know if you need any help on your journey!
Real Estate Agent · Member since 2023 · 831 posts · 577 votes
1y
Hey Reese, I wouldn't say MLS deals are "bad" they're just one source for generating deal flow. That said, MLS properties do tend to be more competitive compared to off market opportunities. This is because MLS listings are public, meaning you're competing with other investors who may have more experience, be more aggressive, and have advantages like quicker walkthroughs or cash offers.
If you’re looking for value add deals, your best bet is to focus on off market opportunities through investor friendly agents, wholesalers, Facebook groups, and similar channels. Off market deals often offer better pricing and more flexible terms.