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The Truth About Today’s Off-Market Deals

f you’ve spent any time on investor email lists, you already know: the phrase “off-market deal” doesn’t mean what it used to. I get dozens of texts and emails from wholesalers every day—and about 95% of them aren’t deals at all. The off-market label has become a marketing tool instead of a meaningful indicator of opportunity.

Here’s what today’s investors should know.

Most Off-Market Deals Are Just Overpriced MLS Rejects

The majority of so-called “off-market opportunities” come from wholesalers who locked up a property at a price too high for the MLS, too high for flips, and far too high for rentals.

Their “discount” often isn’t a discount at all—it’s simply their assignment fee wrapped around a bad number.

Many Wholesalers Don’t Provide the Address

This trend is one of my biggest frustrations.

If you don’t know the address, you can’t:

• Run comps

• Validate the ARV

• Check neighborhood trends

• Analyze rental demand

• Estimate repair costs

Some wholesalers hide the address so you won’t contact the seller directly. But that secrecy makes real analysis nearly impossible—and puts all the risk on you.

The $5,000 Non-Refundable Deposit Problem

A few years ago, this was a fringe strategy used by shady wholesalers. I called it out on the Flipping America show at the time.

Now?

It has somehow become industry standard.

Requiring a non-refundable deposit before you can verify the deal is a red flag.

Legitimate sellers—and legitimate wholesalers—let you verify your numbers. If a wholesaler doesn’t allow a reasonable inspection period, move on.

Why States Are Starting to Crack Down

Bad behavior has consequences.

Wholesalers who:

• Don’t disclose their role

• Don’t reveal property details

• Make inflated ARV claims

• Require unfair deposits

• Mislead sellers about market value

…are the reason states like Illinois have taken steps to regulate or restrict wholesaling. More states are watching, and more legislation is likely.

So Are All Off-Market Deals Bad?

Not at all. Real off-market deals still exist, especially from:

• Tired landlords

• Direct mail campaigns done right

• Trusted wholesalers with integrity

• Networking with agents and investors

• Relationships built over time

But what most people call “off-market” today isn’t a deal—it’s a pitch.

Bottom Line

Treat off-market leads the same way you treat MLS listings: verify everything.

A real deal will hold up to scrutiny.

A fake deal collapses the moment you ask for an address, comps, or access.

Keep your standards high, your deposits refundable until verified, and your analysis grounded in facts—not hype.

Resources You Can Use

Buy or Sell Off Market Deals (yes - we get the irony - but maybe you’ll find that diamond!)

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