(NOTE: Want the absolute EASIEST way to find houses at 50% off their value? Learn more with our latest this special report.)
Hey rock stars! It’s the Cody Sperber back again with another tip that will help you find more profitable real estate investment deals in a way you’ve probably never considered...
I’ve been lucky enough to share with you lots of tips and tricks of the trade through your beloved Mogul lessons and in the amazing 30-Day Quick Start course. Together, we even tackled the topic of Mind Control and Seller Seduction (ooh-la-la) in my last training call.
Today, I’m going to share with you the ace up sleeve, my numero uno way to finding profitable deals off the MLS.
I call this method my “MLS Hack.” Now I know the word “hack” can make some people squirm uncomfortably in their seats. Naturally, your first thought is “sneaky”! Am I right?
Well, I’m here today to change that mindset from sneaky to smart. I’m not – even for a hot second – suggesting that your agent should make offers on bank owned, HUD or even short sale listings...
Oh heck to the no! That, my friends, is sneaky, shady and just plain stupid.
I am, however, talking about one incredibly smart and savvy way to expose big money deals that other investors have simply overlooked.
Did I raise an eyebrow yet?
Here’s the deal. Right now, as you’re reading this lesson, there is a deficit in the amount of clever investors out there, and that means good news – no, great news - for you! Great news for you because you’ll be one step ahead after reading this lesson, and you’ll be one of the few elite investors taking advantage of this highly profitable deal-finding method.
Customize Your Searches to Find Premium Listings
So what is the MLS? We all need a refresher from time to time, so here it is…
The MLS is a database of active, pending and sold listings that is forever changing. Your agent – with whom you’ve already established a strong rapport and solid relationship with – should set up a custom search for you of listings in your target demographic and price range, one that will notify you when certain listings change. By changes I mean properties that go from “pending” to “active.”
You’ll want to know when properties become high “DOMs,” meaning that have been on the market forever. Look for the following key words and phrases (contained in, not necessary starting with) within the “public remarks” or “Realtor remarks” sections:
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Fixer upper
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Repairs
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Probate
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Must sell
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Divorce
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Motivated
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Rehab
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Fire damage
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Quick sale
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Death
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All offers
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Corporate owned
These are just some of the key words to watch for. If you see them, act fast! Be sure your agent sets up your notifications as “immediate.” Timing is everything when it comes to finding profitable deals. You know the saying: You snooze, you lose…
And not only do you lose out, but someone else wins big on a deal that should have been yours for the taking.
Get Inside the Seller’s Head, Then Make the Offer
When you find a deal that looks promising, remember that making an offer and ultimately closing the deal is all about psychology. Your sellers have been experiencing property distress and need someone to alleviate their selling pain (whether they realize it or not).
So remind them of their distress. Get your sellers back in close touch with the negative emotions they’ve been experiencing regarding the distressed property. This will only make them more motivated to sell, which will ultimately make you the hero of the day, the cash buyer who can help them out of their stressful situation... for the right price.
I’m Listening…
So, what do you think about my “MLS Hack” method? Share your thoughts in the comments section below.
Establish solid rapport with your agent before using my MLS Hack system.
Have your agent set up a customized MLS search with immediate notifications.
Search for properties with those key phrases, but be sure to set up your search as “contained in” not “starts with” (this is a big one).
Get inside your seller’s head to motivate them to sell even faster!
Act fast when you find a promising deal. Timing is everything.
Cody Sperber
is founder and CEO of www.CleverInvestor.com. He's successfully closed many different types of real estate transactions including wholesale deals, short sales, multi-unit, subject to, lease options and my own proprietary investing strategy, the Reverse Short Sale. As a new investor he quickly gained a huge competitive advantage by mastering online lead generation, building one of the most successful real estate investing firms in the Arizona market. His companies have bought and sold hundreds of millions in properties and closed hundreds of real estate transactions. Before real estate, Cody served in the Navy and attended Arizona State, and he is now married to his best friend and has two beautiful children (Hudson and Brynlee).