BiggerPockets Real Estate Podcast

The Massive Opportunity of Overlooked On-Market Deals

15 snips
Nov 13, 2024
Guest
Dan Nelson
Dan Nelson, a seasoned real estate agent and investor from Chicago, shares insights on uncovering profitable on-market deals. He argues that MLS properties often hold hidden gems, contrary to common belief. Forget about day-one cash flow; he advises looking for properties that you can enhance over time. Dan reveals strategies for spotting undervalued listings and stresses the importance of long-term cash flow potential. His two decades of experience proves that beginners can thrive in the market by adopting his simple yet effective approach.
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ADVICE

On-Market Deals for Beginners

  • Focus on on-market deals, especially as a beginner.
  • Off-market deals often come with hidden problems, requiring more experience.
INSIGHT

Hidden Problems in Off-Market Deals

  • Off-market properties usually have a hidden problem that lowers their value.
  • These problems may not increase the property's value after repair.
ANECDOTE

Evanston Property Deal

  • Dan helped someone buy a property with a weird layout in Evanston.
  • They plan to add another floor and sell it for $600,000 or $700,000.
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