Got my feet wet w

1 Reply

So, I already own a few properties but, this is day three of me considering myself a FULL TIME Real Estate Investor (and three day member here). I have been analyzing and looking for deals and I entered the dark scary world of and started bidding. I didn't win, I was 7500 shy. But, I feel it a win as I held strong to my numbers for my first flip and let it go. I will have to say...when the bidding started getting lower and lower it got hard to stop. But, I used the analyzer tool here and didn't budge past that.  I will consider my first flip that I make any profit or break even as it is the cost of the learning experience.

Back to the drawing board!  Any tips on auctions out there?

Just a rule that I go by;   If I win every bid, I am bidding too much.

If I lose every bid, I am not aggressive enough

You need to be consistent and believe in your analysis.  If so, you will win some and lose some.

You can't be in a hurry to get a deal, because there may be a better one tomorow, and you dont want to be in a position that you overbid today.

Sounds like you are on the right track!!

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you