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August, 2024

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House Auctions

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WoFIowz
Posts: 9788 - Karma: 72,404
Anyone ever done this or considered doing this? Obviously there could be a lot of bad juju cuz you likely would be getting a foreclosed house, but it could also be a huge value buy (or bust if you don't do enough research).
Oct 28 2018 12:26PM
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Brenone
Posts: 4944 - Karma: 296
Are you looking to do it as an investment or as your primary residence? Buying at auction can be competitive.
Make sure you have plenty of cash on hand and have a healthy contingency in your reno budget.
Oct 28 2018 1:24PM
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iFlip
Posts: 4543 - Karma: 19,132
You need to have either significant construction skills yourself or have a really good contractor available (and finding a good contractor is similar to finding a good used-car salesman).
Oct 28 2018 10:57PM
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DirtYStylE
Posts: 3635 - Karma: 8,774
I hear estate auctions are some of the best places to pick up cheap cars
Oct 30 2018 2:36PM
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OregonDead
Posts: 6858 - Karma: 24,256
Not necessarily foreclosed. I think some people do it just to try to generate more interest when they are trying to move a place. I'd consider it if I wanted a property. Do your research no matter how you are buying.
Oct 30 2018 2:49PM
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theabortionator
Posts: 51491 - Karma: 160,651
If you know how to fix it up, or have time to learn you can get some wicked deals. A bunch of my friends have been doing it in different cities for a few years. Most just have 1 or 2 at the moment, but my one buddy has 8 or 9 I think.

People aren't going to stop breeding unfortunately so might as well buy real estate.
Oct 30 2018 3:02PM
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skierman
Posts: 8269 - Karma: 7,155
I have 4 properties in Flint, Michigan. best investments ever.
Oct 30 2018 11:55PM
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theabortionator
Posts: 51491 - Karma: 160,651
skiermanI have 4 properties in Flint, Michigan. best investments ever.


Bought for $5 now worth at least $7?
Oct 31 2018 12:52AM
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RudyGarmisch
Posts: 25443 - Karma: 13,844
NSG is my go to for investment advice.
Oct 31 2018 1:25AM
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skierman
Posts: 8269 - Karma: 7,155
theabortionatorBought for $5 now worth at least $7?


Mediterranean and Baltic Avenue are now in the double digits since Trump deported MS-13 from the neighborhood.
Oct 31 2018 3:40PM
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evaroni
Posts: 3895 - Karma: 3,776
Do it. Any trade can be learned on YouTube. HGTV has some great toutorials as well.
Nov 10 2018 6:10PM
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Iluminatis
Posts: 1 - Karma: 8
Sometimes auctions are a profitable for real, because I bought an apartment https://www.theflorenceresidence.com.sg and I got it very cheap. I know for sure you can win a lot from auctions, it is already fourth apartment I bought, and sometimes you can find some useful things in there. The secret is to stop in time, otherwise you will suffer. I can say one thing, not everybody can do that.
Jun 6 2019 3:52AM
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ChadThundercock
Posts: 3071 - Karma: 828
Buy a house thats in dire straits, then rent it out to unsuspecting immigrants who will probably just trash it anyways
Jun 6 2019 5:19AM
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TRVP_ANGEL
Posts: 12466 - Karma: 115,410
yeah thats how i got my mansion in vail
Jun 6 2019 9:07AM
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