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How do 10 million dollars look in your account?
Thoughts on whole life insurance? Worth it?
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I'm setting up a new aquarium. AMA
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I tried as well only to realize that they don’t really go for anything below market value. The folks I witnessed bidding were running with their emotions and bidding at prices I didn’t think had an upside. Most of the people who are able to make anything on top are folks who can renovate themselves and then sell for premium price.
And likely also agents or brokers so that when they sell they don’t loose out in all the commission.
Hey, I bought my first auction property and am still in the midst of the process of seeing a return. Unfortunately coronavirus has slowed down my process as I was suppose to redeem the property right as things were shutting down. Courts closed and delayed thing. Aside from this, all I have to tell you is research research research. You need to make sure you know everything about each property. Do not ever bid without seeing or knowing the history to the home. Dont want to be stuck with thousands to pay in liens
To be thorough, check the chain of title with the recorder of deeds.
I tried once and got out bid but about 80k. Was interesting to do once and put in a couple bids. I actually knew the property well as it was right next to where I lived. It sure I’d have the guts to do it in an unknown place had cashiers checks in different denominations as you had to pay there and wanted to be able to have different amounts to combined
I’ve assisted clients in tax sales, and it seems like there are great opportunities. I’ll likely be looking into purchasing from tax sales myself.
Usually the sales are posted in a legal newspapers. However, you can probably find information on county websites or you can call counties you are interested in (usually the collector’s office) and inquire.
Some people do quite a bit of their own due diligence on the front end, such as check the chain of title and online research using a parcel viewer.