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“Why there are No Deals on the MLS” – ASK the P.I.G.

QUESTION: Can you find deals to flip on the Multiple Listing Service (MLS)?
The simple answer to this question, one that I receive all the time, is NO, you can’t find deals to flip on the MLS.  Whenever I post something on my website or Facebook about the lack of deals on the MLS, I always get some goober who wants to tell about his massive success story from an MLS property, but the fact is that deals RARELY are found on MLS.  Yes, I have also purchased a very profitable deal on the MLS….1 house in 12 years.  And so, if I relied on that deal source for my real estate investing, I would have been out of business a LONG time ago.
If your definition of a “deal” is a rental property that has a 10-11% cap rate, then of course, you can pick those up by the handfuls on the MLS.  However, you will have a very difficult time finding deals you can rehab or wholesale, like most “active” investors are looking for, on a public website with inordinate amounts of web traffic.  New investors always follow the path of least resistance, and so when they want to find houses, they go ... more

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