How can you find deals that are not on MLS?? You may have a real estate agent or several real estate agents sending you different listings from different areas, and you're wondering how do people find deals that are not on MLS? So I'm going to go over those things today.
The one way that you can find deals that are not on MLS is to network. You should find your local real estate investment groups, clubs, both online and offline. You need to start networking with people in areas that you want to invest in and see what they're doing and see what kind of deals they are getting and from where. When you get into these clubs and groups and start networking with people and getting to know them, let them know what you're looking for, and if something comes up that matches your criteria it might just come to you. Some people are looking to sell privately to other investors and others are looking to partner on deals with investors, so the best way that you can get involved is to start networking and be in the mix.
Another way to find deals not on MLS, surprisingly enough, is through Realtors. Realtors have different deals coming across their desk and not all of them end up on the MLS. Some Sellers do not want to list their property on MLS. They have various reasons for it; some don't want to deal with having an open house or they don't want the information publicly on MLS, so they want to list it as an “exclusive listing” or a “pocket listing” through a Realtor. If you're networking with various real estate agents and they know that you are in the market for an investment property, and they have an exclusive listing that is not listed on MLS you are going to want to be on their mailing list.
For Sale By Owners
Another great place to look for listings and deals that are not on MLS is to look at for sale by owner properties. You can find that on different websites, this blog posted a list of them here. You can contact Owners that are selling their property and get any kind of information that you want directly with the seller without having a Realtor as a middle man. Many people opt to sell their own properties to avoid brokerage fees so definitely keep an eye out for deals this way.
A final tip on how to find listings that are not on MLS is to again, network, but you're going to want to network with wholesalers. What wholesalers do is find a really good real estate deal and they wrap it up into a contract and then they sell that contract to someone else for a fee. That fee can vary. They are essentially flipping a real estate contract. If you start networking with wholesalers, they may be able to give you a good flow of leads that are not regularly found on MLS. If you're willing to pay the fee to for finding it then that could be a really great way to find deals that are not on the MLS.