Are auction sites a good source for 1st time investors?

1 Reply

Hello everyone, and thank you in advance for your answers! My team and I were recently introduced to an auction site called hubzu.com. We found ourselves a property we would like to bid on, but we are not sure if this type of deal hunting is recommended for first time investors. For anyone that has used these types of sites in the past, are there any BEWARE pieces of advice you can provide and do you recommend this method of finding deals? Why or why not?

Search the forums for advice re: auction.com - you'll find lots of recent posts with advice on the same topic.

Auctions are fine for first-time investors, but do increase your risk - you need to read all the fine print to make sure you know what you're getting in to. You may or may not be able to see the property in advance, may or may not get an inspection contingency, etc. It all depends on the site, the property, who's listing it, etc. Boils down to your own comfort level...