Searchable guides, field-tested checklists, and step-by-step learning paths for investors, wholesalers, and general contractors — free, national, always current.
What is off-market?
Off-market properties are sold directly between parties without being listed on the MLS. They come from wholesalers, direct-to-seller marketing, probate leads, and distressed situations.
Why investors use them
Less competition, negotiable terms, motivated sellers, and access to properties needing rehab that MLS buyers overlook.
Radius and recency
Start with sold comps within 0.5 mi, closed in the last 90 days. Expand to 1 mi and 180 days only if you have fewer than 3 solid matches.
Match the profile
Compare beds, baths, square footage (within ~15%), year built, and lot size. Same school zone and no busy roads between subject and comp.
Numbers first
Lead with ARV, rehab estimate, and asking price. Investors scan for the spread before they read anything else.
Photos that convert
Exterior, kitchen, main bath, worst area (be honest), and the roof. Blur faces and license plates.
Room-by-room, not lump sum
Break scope into kitchen, primary bath, secondary bath, flooring, paint, exterior, HVAC, roof, and permits. Lump-sum invites padding.
Materials allowances
Include a per-SF allowance for flooring, tile, and countertops so contractors bid labor + install, not their material markup.
How they price
Most lenders quote a rate (10-13%), points (1-3), and an LTV/LTC cap. Rehab is reimbursed via draws, so budget cash for the first draw.
What they underwrite
The deal first (ARV, spread, market), then the borrower (experience, credit, liquidity). New investors: partner up or expect tighter terms.
Assignment
Cheapest and fastest. Your assignment fee is disclosed on the closing statement. Best when the fee is reasonable and the buyer isn't sensitive to it.
Double close
Two back-to-back closings; your fee stays private. Higher costs (two sets of closing fees) but preserves the spread on larger deals.