Comments on: Buying at the Foreclosure Auction: Beware of Occupied Homes – A Horror Story that Could be YOU!

By: Morgan Smith

Morgan Smith — Mon, 06 Jul 2009 19:11:06 +0000

-Ryan
I can’t agree more as my first home purchase, which was also an occupied home at a foreclosure auction, was a terrible headache. At the same time I do agree that “if you get enough good deals you can stand a real problem every now again.” Good post guyz!

By: Zachary Smith

Zachary Smith — Tue, 16 Jun 2009 16:07:24 +0000

I agree…We have a lot to lose with this nightmare auctions…

By: ella silveira

ella silveira — Thu, 13 Mar 2008 18:51:51 +0000

Arizona Daily Star… Long Realty Company

http://www.azstarnet.com/business/227653

By: Jim Watkins

Jim Watkins — Mon, 19 Nov 2007 14:29:30 +0000

Wayne,
What you said is EXACTLY the trick… “If you get enough good deals you can stand a real problem every now and again.”

New people at the auctions laugh at the seasoned pro who just bought a property that most people had pegged the figures too close to make the gamble. I try to tell those people is that some of the pro’s buy 100 houses a year. Out of those, they may lose on 25…But make out on 75. Allowing them to overcome just about any situation.

Its the guy that pools the entire family’s piggy banks together to buy one house… And LOSES! Those are the ones that need to dig deeper than the rest to know as much as possible before bidding.

Thanks for the feedback.

By: Wayne

Wayne — Mon, 19 Nov 2007 13:33:24 +0000

These kind of things happen and I think you have to figure issues like this into your strategy and know that sometimes things will go against you. It is a numbers thing. If you get enough good deals you can stand a real problem every now and again.

By: The Feed Bag - What If Seth Godin Was A Realtor?

The Feed Bag - What If Seth Godin Was A Realtor? — Fri, 16 Nov 2007 00:36:28 +0000

[...] Pockets has another real estate investing ghost story to [...]

By: Thomas Brisbane

Thomas Brisbane — Thu, 15 Nov 2007 19:28:30 +0000

Great article on foreclosure auction nightmares. Its not always a huge moneymaker and sometimes there can be quite a lot of work and paperwork involved.

Here’s a great article on a new real estate investment scam coming to a city near you (if it isn’t already there yet). It’s an absolute must read for anyone in real estate investing (beginner or advanced):

http://bestbraindrain.com/2007/08/03/foreclosuresdailycom–is-it-a-real-money-making-program-or-is-it-just-another-real-estate-scam.aspx

T. Brisbane