Using the mls to acquire investment properties.

I would say that all in all the Multiple listing service marketing that is done by real estate agents is not the best for finding property in major need of repair or way under market value. They can be found but they are very rare and take a lot of time to find. There are just to many variables to make it a very successful marketplace for this kind of property. But with that said it should still be used in your overall plan to acquire investment properties, because the more marketplaces you have the better your results are going to be.

The area this marketplace excels in is the area of the average condition property and the totally remodeled property. The average property is great because you have a lot of these places to look at on the market. Most of these homes do not sell overnight and tend to stay on the market for a little longer so you may have some bargaining power here. I like to look at the DOM or days on market stat when I am looking for a property of this kind. I have seen properties sell for way below the asking price when they were on the market for a long time. Some properties tend to go stagnant after a while and most realtors will go to the seller and ask them to drop the price because it is to high. Hopefully you can get in a time like this with a low offer and it might just be accepted. I think that in the marketplace of the average house take your time and don't buy the first thing that comes up. There are plenty of houses out there to look at so find the right one.

The last category is the remodeled category. You will see many of these properties on the MLS system. After all this is the big marketplace for most contractors and personal home sellers so you will be able to find a great deal of nice homes to rent. You will probably pay a premium so they will have to be run through a cost analysis to see how profitable they are. Some properties like this may very well fit your rental strategy and work out well for you.