MLS or no MLS?

[Account Closed]

I'm a new investor and I'm at the stage where I'm starting to look for deals. The problem is I don't know where to look. I know that great deals are always out there, but they are generally not on the MLS. What are other ways to find good deals?

[Jade S.]

@Account Closed Deals can be found on the MLS, but keep in mind that it is but *one* way to search for properties. You might look closely at listings with high DOM, as well as working with an agent on expired listings. But always evaluate your market and run your numbers to be sure the property makes sense.

Othe ways to find deals?

1) For Sale By Owner (either from FSBO websites or signs in yards)

2) HUD/Bank/Fannie REOs

3) Direct Mailing

4) "Driving for Dollars" (e.g. Grass growing in yard with no apparent occupant, etc)

5) Talk with landlords to see if any are looking to sell. 

6) "Pocket" listings through an agent

7) Auctions, although not recommended for a REI neophyte

Just a few thoughts...