All Forum Posts by: Matthew Rollo

Anyone using some form of "MLS hack" or keywords to help narrow down the search criteria?

Let's keep this thread going by asking this...

What are some of the best questions you can ask:

1. Listing Agent

2. For Sale By Owner

To help get the price point down?

Yeah I mean there are tons of properties available. With enough digging you can find the run down, vacant houses and sometimes get lucky to engotiate the right price. 

1 of the strategies I have been using is offering close to asking, locking the property up for a 10 day inspection and then using what we find on inspections or contractor walkthroughs to go back and ask for price reductions. It works occasionally.

Over the past couple months I have been able to secure a handful of wholesale deals off the MLS here in Orlando, FL. While many people will swear it has dried up and there is nothing on there, I have been able to knock a few out.

I don't spend the majority of my time on the MLS anymore but the one upside is that there is ready and able sellers that have listed their property. THEY WANT TO SELL!

Sure, their expectations are unrealastic, listing a home in need of major repair at the same price point as a renovated home. 

For those of you still doing MLS deals, what is one of your strategies to lock down deals when a house is overpriced?

Competition is brutal in Orlando and the auctions are online with an option to set a max price and have aut bids done on them. So it is very difficult to purchase off the online auction. I am aware of a couple of counties that do it live still and the amount of people that go to these is a lot smaller.

Obviously getting in touch with the owner months before is the most ideal situation. 

I may have read some of the comments wrong but is it more advantageous to contact the owner or the bank?

Once again, this is why BP is the go to for questions and answers involving real estate!

Thank you to everyone for the input!

@Kevin Dong So you're saying 2 weeks prior you can hault the foreclosure auction if you get a contract and send it off to title?

@John Thedford

Fair enough. Makes sense. 

Perfect, that is what I was curious about. Initial question answered!

When you are looking at these auctions, how far out do you typically start? I'm sure the process takes time and trying to initiate a deal a day prior won't work so are we talking 2 weeks, a month, 2 months?

Good afternoon BP,

I want to start buying from the foreclosure auctions in my county here in Florida. Lots of activity on those auctions though and typically get bid up higher then my MAO.

I know how to find the owner and contact them directly but what is the process to buying directly from them prior to the auction date? Is it pretty straight forward or is there a ton of hoops to jump through first?

Any input helps!