Got my feet wet w Auctions.com

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 Auctions.com 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!!

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