I am a recent newbie to Bigger pockets and a total convert! I am so impressed with the real estate rookie podcast it is really such a great way to learn about real estate investing in such an inspiring and interesting way.
My question is this: What does it mean exactly when guests on the podcast say they bought their property on the MLS? I have assumed it means that they bought a property that was listed for sale online on say Zillow, Trulia, Redfin etc. which I assume all source their database of properties from the MLS? Ie. That they bought their property the way a regular homebuyers do. Or am I perhaps mistaken and is the MLS something different?
You are correct. "Buying on the MLS" generally means that they are buying properties that are listed by realtors on the local MLS, which means they are most often listed on zillow, trulia, realtor.com, etc. If they not buying from the MLS, they are usually buying from wholesalers whose deals are not on the MLS or doing some sort of direct marketing to find deals (letters, postcards, phone calls, door knocking).
Thank you Mike for the clarification! much appreciated!
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