Diana Hill
Online Trading Academy
If you ask the guy on the street what makes a good real estate investor, he’ll tell you, ‘Someone who has the inside track to good deals.’ There is no magic formula for having the inside track, just two key elements: limited competition and an urgent need by a seller to liquidate the property.
How do you find these opportunities? It comes down to hard work, access to good data, knowing how to negotiate and create a win, win situation, a system to track and analyze properties quickly and a work ethic to stay consistent. As Tom Hanks said in A League of Their Own, ‘It’s supposed to be hard. If it were easy, everyone would do it.’ At OTA Real Estate, our education, tools and coaching could help the investor find these inside track opportunities which we call off market and grey market real estate deals.
What Are Off Market and Grey Market Deals?
Simply stated, off market properties and grey market properties are those that have not been listed by an agent and added to the MLS (Multiple Listing Service). The MLS, according to the National Association of Realtors, is ‘… a tool to help listing brokers find cooperative brokers working with buyers to help sell their clients’ homes. Without… the incentive of the existing MLS, brokers would create their own separate systems…, fragmenting rather than consolidating property information.’
Grey market properties, as defined by OTA Real Estate Wholesale Instructor Joe Short, are, ‘properties that are actively for sale but significantly underexposed to the general buyer’s market place. Typical grey market properties are those sold at most auctions and so-called FSBOs (for sale by the owner without the assistance of a licensed real estate agent). Some real estate professionals, such as Wholesalers, operate in grey markets wherein they find off market properties and market them to a limited, specialized group of (usually) cash buyers.’
Off market properties are defined as properties not marketed to the public. Once a property hits the MLS, by design it is exposed to the greatest number of potential buyers. Getting to the property before the public naturally limits competition, potentially allowing the investor to get a favorable deal.
Here at OTA Real Estate, we teach many grey market and off market real estate strategies including, but not limited to: pre-foreclosure, foreclosure, bankruptcy, divorce, targeted list, tax sales, REOs and probate. Through our education and the powerful patent pending Deal Board, we not only educate our students on how to find these off market real estate deals and grey market properties, we also offer local and national data sources to access them quickly.
Read the original article here - Investors Inside Track to Good Real Estate Deals!
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