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Why Would I Buy A Deal From You That’s Already Listed?

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Deal, MLS

Why Would I Buy A Deal From You That’s Already Listed?

I was at a meeting a couple of nights ago speaking with a rehabber he was talking about how he did not find value in wholesalers as some of the wholesalers he spoke with were sending him deals that they were trying to flip off the MLS. His thought was ‘why I would buy a deal from you that everyone in the world can see?’ Now this is an argument I’ve heard countless times and the answer is always the same. Because if it’s a good deal, it’s a good deal! It shouldn’t matter where it comes from.

Yes, more people have seen the deal. However, if you saw a deal that was on the MLS and someone was selling it to you 40% off the list price and the numbers in the rehab made sense, would that work? Well, I can tell you it works because we actually did it! We actually bought a deal at 50% off list and were able to wholesale it to someone else. And they got a fantastic deal and were thrilled. Now does every deal like that make sense? Of course, not. Many deals that people are trying to flip off the MLS are in fact not good deals. They are not good deals on the MLS much less in a wholesaling situation. However, also keep in mind that every buyer has different criteria that they use. They may have a different exit strategy perhaps than what you might be thinking. So while the deal maybe not work for you, it may work for someone else and there is no shortage of wholesalers that have had success flipping MLS deals.

To be fair, I get a ton of off market deals sent to me and I can safely say, that like the MLS, the vast majority of them are also not deals. So the hype about off market deals is the way to go is definitely that, hype. It is nice to get them off market sure but again, source is not the primary focus nor should it be. It’s about the numbers and what are your goals as a Buyer.

So the bottom line here is very simple…if the numbers works for you on a deal, fantastic! Pursue it. To say that you won’t look at a deal because it’s listed without looking at the numbers first I believe is an opportunity to miss out on something that might work for you as a Buyer. It’s always about the numbers and your goals, so always stay focused on that!

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