--- Strategy in this SUPER competitive market ---

2 Replies

Hello BP... 

My wife and I have been working hard to find deals on the MLS in the Southeast Michigan area, but haven't had much success. It seems like every time there is a deal, people buy it with CASH & WITHOUT even looking at the property in person.

- Are you facing the same challenge? 

- Any advice on becoming more competitive compared to other buyers? 

- Should we work with more than one agent or broker?

We are looking for small multi-family properties.

Thank you ... your help is always appreciated! 

-Ken

@Ken N. ,

I am facing similar challenges over here in North Idaho. Inventory is gone within 1-2 days so even just finding a house to buy to live in is tough. Everything is gone and everyone's paying full price for everything. I've contemplated waiting the market out this year, but we have been considering new construction. If there's no deals to be had build your own. As far as agents go (as an agent myself) you just need 1 great agent rather than a few good ones. It's not that tough to scrub the MLS daily. Have you considered looking for off market deals? maybe farm an area with direct mail or advertising.

Just a thought!

It sounds (and is) ghoulish but of the last three properties we acquired two involved owner deaths and the third a stroke.  Deep fixers.  Anything with a fresh coat of paint goes in minutes out here.