Updated about 3 years ago on . Most recent reply
Bidding for Multi family
Hi all, I live in the NJ/NY area and I am looking to buy a Multi family and I am a first time investor. I am reading books about financing for first time buyers but the area I Live things are very competitive and all the decent properties are having bidding wars?
What are your thoughts on bidding? is it unwise to go above asking price? that seems to be the only way I will get a property I want. Is there a certain number over or percentage I shouldn't go over when bidding for a property? So far it seems to be fine as long as I only bid within my budget but I wanted to get other opinions on this matter. I am open to any advice!