Real Estate Tool of the Week – The MLS Donkey

One of the best free real estate tools for real estate investors and real estate agents is the MLS Donkey.

The MLS Donkey searches the MLS for investment grade properties and sends you a list of qualified listings – all on autopilot. It’s a set and forget program that I use to find that proverbial needle in a haystack. Instead of spending endless hours scouring the MLS for deals I set up my search parameters on MLS Donkey and “let the donkey do the donkey work”.

The MLS Donkey works like this:

• You select a market and a local MLS
• You enter your search criteria. The MLS Donkey can search by discount, cash flow and cap rate.
• Everytime a new listing hits the MLS, the MLS Donkey analyzes the listing and emails it to you if it meets your search criteria.

How cool is that!

As an example, I’m interested in properties with at least 40% equity in Phoenix. I ran this search through the MLS Donkey and it came up with the following result:

2341 W Maricopa St Phoenix – 4 unit multi-unit – 6 bed 4 bath

Listing Price: $34,900 Estimated Value $123,172

Estimated Equity $88,272 or 72% 

Here’s the link to the actual listing.

I live in Boulder, Colorado and know nothing about this property or that area of Phoenix so I can’t tell you why this appears to be such a good deal. I’ll certainly do my due diligence before making an offer on the property. The important point I’m making is that I now have a warm lead on a potentially very lucrative deal.

And I let the donkey do the donkey work.

About Ross Hair

Ross Hair is the Real Estate Advocate and President of eRealEstate.com, a real estate social media company.

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