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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