Investor Buying Strategy with Homes Listed on the MLS

[Kevin Hill]

I have an investor client who has several different spokes on his wheel for lead sources. He wants the MLS to be one of his sources for deals.

I am not so sure his methodology is going to work with properties listed on the MLS however. His offers are based on being 65% of market value MINUS repair costs.

We put an offer on one property that was competitively priced at $300,000 and his offer was $165,000.

With very low housing inventory and well priced homes getting multiple offers on them in my area of North Jersey, can you see this strategy working at all? Is it just a numbers game where you might have to put in 100 offers and get 1 deal out of it? 

As agents, do you think that is worth your time?

[Rocky V.]

Ah...so he is a wholesaler.  Don't waste your time.  He needs to get out there and find his own deals (marketing, driving for dollars, door knocking, etc).  He is making you do all the work.