Auction novice. Central connecticut

3 Replies

So I’m looking into buying an foreclosure multi family in the central connecticut area. It’s being put on auction. Is there any chance that a novice like me can win the auction, also looking for advice on the process

@Joanna Pias a novice can win, but I wouldn't recommend it for a first purchase. 

My first couple REO's had 1 contingency, a 10-Day window inspection where I could bring in someone more experienced than me to make sure I didn't get over my head.

Are you able to get in and inspect the property? 

Do you have your financing in order? 

What is your exit strategy? 

Do you have local contractors if it needs work? 

Purchase price, repair budget, and after repair value?