All Forum Posts by: Jamarr Lee
Jamarr Lee has started 16 posts and replied 58 times.
Post: Can you wholesale properties off the MLS
- Atlanta, GA
- Posts 60
- Votes 5
Originally posted by @Laura Alamery:
I have been using what I call "MLS Strategy" for over 20 years and it works.
Yes, it is a numbers' game, but some important points I keep in mind when looking for properties on the MLS:
- Usually I go after properties that have been listed on the MLS for 90+ days;
- I talk to the listing agent and get him/her on board before I send the contract over (why I am offering the price that I want to offer, low earnest deposit and I also let them keep both sides of the commission;)
- If the offer is rejected, I ask why - I have nothing to lose at that point. May be they are willing to wait a year or more (then I create a Lease Option) to get their full price or above. I know investors that approach the MLS and real estate agents and use the strategy of "Wholesaling Lease Options" on properties with sellers who want full market price.
Going after MLS properties and For Sale By Owner is the "low hanging fruit" of real estate investing. As you say, these people already want to sell!
Other great sources for sellers, especially in distressed situations, are public databases, like upcoming foreclosures, tax delinquent and probate.
What is a good site to get good leads from?
Post: Can you wholesale properties off the MLS
- Atlanta, GA
- Posts 60
- Votes 5
Originally posted by @Laura Alamery:
I have been using what I call "MLS Strategy" for over 20 years and it works.
Yes, it is a numbers' game, but some important points I keep in mind when looking for properties on the MLS:
- Usually I go after properties that have been listed on the MLS for 90+ days;
- I talk to the listing agent and get him/her on board before I send the contract over (why I am offering the price that I want to offer, low earnest deposit and I also let them keep both sides of the commission;)
- If the offer is rejected, I ask why - I have nothing to lose at that point. May be they are willing to wait a year or more (then I create a Lease Option) to get their full price or above. I know investors that approach the MLS and real estate agents and use the strategy of "Wholesaling Lease Options" on properties with sellers who want full market price.
Going after MLS properties and For Sale By Owner is the "low hanging fruit" of real estate investing. As you say, these people already want to sell!
Other great sources for sellers, especially in distressed situations, are public databases, like upcoming foreclosures, tax delinquent and probate.
Post: Can you wholesale properties off the MLS
- Atlanta, GA
- Posts 60
- Votes 5
@Laura Alamery what is a good site to get a lead list from?
Post: Can you wholesale properties off the MLS
- Atlanta, GA
- Posts 60
- Votes 5
Appreciate it! What would probably be the best site to get leads from for a list? That's if I decide not to do MLS.
Post: Can you wholesale properties off the MLS
- Atlanta, GA
- Posts 60
- Votes 5
I really don't know if it would be a double closing or assignment. I don't understand how it works.
Post: Can you wholesale properties off the MLS
- Atlanta, GA
- Posts 60
- Votes 5
Hello BP family, I have been hearing some people talk about wholesaling off of the Mls is that possible? I have a wife who is a realtor and I have access to her data if it is possible. Please give me some insight on how to if it is.
@Lucky Boiron the house was built in 1920.
I do know it needs new roofing, electrical, plumbing, needs to be gutted down to the studs, and drywall.
Post: How to enter abandoned houses with caution?
- Atlanta, GA
- Posts 60
- Votes 5
I appreciate everybody's comments. I went down to the house and looked around the outside of the house. The door was locked, I talked to some neighbors to see if they seen a homeless person coming in and out the property. The neighbors said yea, but they said the homeless guy said he was going out of town.
I'm in the Atlanta area, I wanted to know for a house that is 1500sqft what would be the estimation of a ballpark figure on a gut rehab? Like the price per sqft.