So, you’re looking to find investment property but don’t have MLS access. While it may seem like a daunting task to get your hands on the real estate data you need, it’s a lot easier than you think. In this article, we will take a look at different methods you can use to find investment property without direct access to the MLS database.
The MLS Database: An Overview
The MLS is a database of property listings curated by real estate brokers for the use of real estate agents and real estate investors. The MLS database makes the jobs of professionals in the real estate industry more efficient because they can quickly access the information they need about properties.
While this seems like a win for real estate investors who can use the MLS as a reliable source of information when making important investment decisions, not everyone gets MLS access.
MLS listings are reserved for practicing brokers, realtors, and anyone who has a real estate license or becomes a member of the National Association of Realtors (NAR). In short, meeting any one of these requirements is not easy or cheap. Fortunately, there are alternative methods for accessing the information contained within MLS listings.
Finding Investment Properties Without the MLS
If you are at a loss while finding investment properties without the MLS, this short list of resources and options might help.
Resources for Investors Without Direct MLS Access:
- Hire a real estate agent who can source key information for you
- Network with professionals in the neighborhood you want to purchase an investment property in
- Use a website to find investment property
- Get an API to access MLS data
- Or, work with a company that has an API to access MLS data
While the MLS is an invaluable source of information, it certainly isn’t everything. There are many other sources of information to pull from. The question is, how much time can you afford to spend searching around for real estate data?
Many people believe that having direct access to the MLS through traditional means is the only way to access that information. This couldn’t be further from the truth. There are websites you can use to search for real estate listings and find investment property. Keep in mind, using a website to find investment property for sale may not be enough, depending on the depth of the information they provide.
Companies such as Mashvisor provide an abundance of information on investment properties for sale for your convenience. Mashvisor uses MLS listings in our database, but we also pull real estate data from a variety of other sources, making our investment property finder a one-stop-shop for real estate investors.
For real estate investors looking to find investment properties outside the MLS, look no further! Mashvisor is a comprehensive tool that can not only help you find investment property but also hit each and every one of your investment needs.
Using Mashvisor to Find Investment Property
When trying to find investment property using Mashvisor, understand that you have an arsenal of tools at your disposal. Each of our powerful real estate investment tools has a unique purpose in your quest to find investment property.
Real Estate Heatmap
The first Mashvisor tool to look at is our real estate heatmap. This tool utilizes property data and predictive analytics to give investors an understanding of the profitability of investing in a particular neighborhood.
Before diving into individual properties, a real estate investor should have an idea of what neighborhood they want to invest in. The real estate heatmap will help you narrow this down by providing you with insights on housing markets. It can also help you decide which rental strategy, long or short term, would be most profitable in each area by showing you the rental income.
Rental Property Finder
Once you’ve identified the neighborhood, it’s time to find investment property!
The best real estate search engine you’ll find is Mashvisor’s rental property finder. It is one of the more powerful investment property search tools out there.
The rental property finder uses predictive analytics and machine learning algorithms to find the best possible rental properties for you, given a set of search criteria. You can find investment property by searching the following criteria:
- Number of bedrooms
- Number of bathrooms
- Traditional or Airbnb investment
- Type of investment property
Mashvisor’s property marketplace is a second real estate investment tool to check when conducting your property search. You can find off-market properties for sale using this real estate search engine including foreclosures, short sales, bank owned homes, and auction properties.
Using the property marketplace as one of your investment property search tools can be insightful, as you can take advantage of off-market properties other investors might be missing out on. Like the rental property finder, you can find investment property for sale using a plethora of search criteria to get fully customized results. In the property marketplace, you can find investment property by:
- Traditional or Airbnb
- Type of investment property (Single-family, multi-family, etc.)
- Number of bedrooms
- Number of bathrooms
- Cash on cash return
- Cap rate
- Listing type
Investment Property Calculator
Finally, after you’ve found a few properties you’d like to conduct further real estate analysis with, use the investment property calculator to find important metrics needed to make an investment decision.
This powerful piece of real estate investment software takes your basic property data inputs such as the price and financing information and calculates whether the investment is a good choice for you. Not only is it easy to use, but it can show you the expected income and expenses associated with a property.
Along with property analysis, the investment property calculator also provides insight on which rental strategy, short term rental properties or long term, would be more profitable for you.
Mashvisor’s investment property calculator can provide the following metrics:
With this information, you will gain a better understanding of the income and return on investment you can expect from any property in our database.
Hopefully, this article gave you some helpful information on how to find investment property data without the need for direct MLS access.
With Mashvisor, you can quickly narrow down your neighborhood and potential investment properties for sale, whether on or off-market, conduct thorough real estate analysis, and select the most ideal investment property for your needs. All of this can be done on one easy-to-use platform without the need for a realtor, MLS access, spreadsheets, or difficult calculations.