Having difficulty finding deals to flip while..

1 Reply

Hi,

As we all know that it is getting difficult to find deals to flip while there are a few flippers in my town who consistently keep getting good deals. I have setup a lot of alert on MLS/Redfin and do get some good alerts every now and then but these flippers I am talking about get it much cheaper(usually 40-50k below my price).

Is it possible that these flippers have some relationship with banks? is it possible for a property to be not listed on MLS and goes direct to flippers.

Or may be I don't know how to setup alerts, if somebody can share some tricks I would appreciate that.

Thanks

@Rao V. Many good properties never make it to the MLS. Are you looking for fix and flip properties? If so, get in good with some wholesalers. They can bring you tons of properties, but be cautious as what seems like a good deal to them may not be a good deal for you, so make sure to do your research on any property. As for properties on the MLS, get in good with a Realtor that can notify you when they come available. A good Realtor should be able to tell you within a few hours of a property being listed. If you can find a Realtor that works with investors, they may have a mailing list of properties before they hit the MLS. These are called "pocket listings". Another thing to do is check zillow and trulia. I find that they are updated more frequently, at least in my area. Craigslist is another great place to check, as sometimes people will try posting their house for sale there before contacting a realtor. I hope this helps!

-Joel

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