Do Off Market Deals Exist Anymore?

Member since 2022 · 10 posts · 12 votes

Wondering if you are still seeing many opportunities for off market deals, more specifically in the multi family space. Our realtor has only brought one to us in the last few months. Just wondering if that is typical, or if there are more off market deals to be considered. I imagine that unless your realtor is the one presented with the off market deal they would be hard to come across? Thank you for your input!

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Michael HaasBusiness Member

Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes

We've closed 3 off market deals so far in 2022 and have more in escrow or further down in the pipeline - they're definitely out there.

I second what others have said - make sure you're top of your Realtors list - Off market deals can be hairy, so we don't send them to every client, just the ones we feel have the ability to roll with the punches and close the tough ones.

Also make sure your realtor actually invests in off market. They should be spending at least a couple hundred bucks a quarter on direct mail or ads - a lot of realtors who do "off market deals" actually just forward you emails from wholesalers (after adding 3% to the purchase price to cover their commission ;) ).

I'd also check your criteria too - Most realtors that actually invest in off-market are sourcing more than 1 deal per month, but if your criteria are very specific they may be sourcing deals that just don't meet your needs, and thats why you aren't seeing many come across your desk.

Hope that helps & best of luck!

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Joe Bertolino
Investor · El Dorado Hills, CA · Member since 2012 · 1k+ posts · 1k+ votes
4y
There are still plenty of off-market deals being found. Some agents market like wholesalers looking for distressed properties.
1 Reply
Cole Simpson
Rental Property Investor · Columbia, SC · Member since 2020 · 302 posts · 186 votes
4y
Lots of good advice here. Also, you can still find good off-market deals on Facebook Groups.
0 Reply
James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
4y
Quote from @Courtney Kelly:

Wondering if you are still seeing many opportunities for off market deals, more specifically in the multi family space. Our realtor has only brought one to us in the last few months. Just wondering if that is typical, or if there are more off market deals to be considered. I imagine that unless your realtor is the one presented with the off market deal they would be hard to come across? Thank you for your input!

A Realtor's job is to take "off market" properties and put them "on" the market. If you want to buy properties off market you need to market to sellers.
2 Reply
Henry Lazerow
Real Estate Agent · Chicago, IL · Member since 2017 · 2k+ posts · 2k+ votes
4y
Its mostly BS trying to sell get rich quick books and seminars but YES there is always some off market deals. They tend to actually be over priced not under priced but there are occasionally good ones.
2 Reply
Ricardo Hidalgo
Real Estate Agent · Member since 2019 · 569 posts · 257 votes
4y
Quote from @Avery Gilmer:

@Ricardo Hidalgo What service do you use for mass text ?

I was using batch leads now I just capture the leads and send them text through CRM
0 Reply
Steven Caldwell
Investor · Chicago, IL · Member since 2019 · 58 posts · 44 votes
4y
anyone connected in chicago please let me know id like to connect
0 Reply
Gene Livingston
Investor · Kyle, TX · Member since 2015 · 113 posts · 102 votes
4y
In my area (North Texas) I look at 25-30 "deals" a day. So yes they theoretically exist. Are they ACTUAL deals? Generally not, but that's no different than any other time in history. Just keep working.
2 Reply
Kelly Asmus
Real Estate Broker · Portland, OR · Member since 2018 · 123 posts · 71 votes
4y
Off market deals are still possible. Having your realtor bring them to you is only one way. Networking, auctions, social media, letters and door knocking are all ways to find properties. You have to put in the effort to find the deals.
Our team has a pipeline of sellers that we try and match with our current buyers. So yes, many agents, if they have a lot of experience in the business, will have access to properties that haven't hit the market yet.
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Joe HammelBusiness Member
Real Estate Agent · Metro Detroit, MI · Member since 2018 · 612 posts · 666 votes
4y
@Courtney Kelly
Definitely not many. Because there’s no motivation to sell off market when you could (or should) list it on the open market and get max price.
*Usually* the reason for off market sale is they're hiding something or uneducated. So it goes through a wholesaler who isn't bound by the code of ethics required to sell on the MLS.
Plenty of good deals on the MLS and 90% of the time (yes there is 10% of the time this doesn't apply) there is a "reason" they went the off market route.
[email protected]248-422-1685
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Ashley Cross
Lender · Columbus, OH · Member since 2020 · 202 posts · 214 votes
4y
I'm closing on a duplex my realtor brought to me off market next week. I think it all depends on the property. You're more likely to get a distressed home that has some sort of issue off market. But your realtor may not be finding sellers that are willing to sell off market.
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