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Hi Moguls, Patrick Riddle here with an interesting perspective on the difference between working with MLS-listed properties (which means you do deals through Realtors) and working with non-listed properties (which means you negotiate directly with sellers).
There are a number of differences between these two options and we’re going to talk about the most important ones.
I’ll start this off by saying that if you have an abundance of resources, if you have perfect credit and available cash to close the deal, then working with listed properties may be the best way for you to go.
Is anyone out there raising your hand to having all that in place? Probably not.
So… if you don’t have an abundance of resources, then working with properties that are not listed is by far the easiest way to get that first deal. Here’s why…
Realtors have a lot of unnecessary rules that they impose on everyone. They do…
Patrick Riddle
has been investing in real estate ever since he got the bug in college at Clemson University and - to his parents dismay - dropped out of college to dive full-time into real estate at the age of 22 with a couple friends/partners from school.
The first few deals were rough for them, mainly using their own cash, credit, and hard money loans. But, soon he found out that was a rough and unsustainable way to build a real estate business.
After "on the job" learning through the school of hard knocks at first, he found the key that helped their company get deals done more quickly, with higher profit, less risk, without having to go to banks or use their own cash.
Fast forward to today, their company has closed over 130 real estate transactions and has put over $6 million in private money into their own transactions.