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Updated almost 5 years ago on . Most recent reply

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Carlos Gomez
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Acquiring property through auction websites like HUBZU

Carlos Gomez
Posted

I am not a seasoned investor but do have a couple deals under my belt. Currently own two rental properties and in the process of closing on a third. I recently got interested in acquiring properties through auction websites, mainly bank owned properties. My concern is that the due diligence process is severely limited. What would the bigger pockets community recommend as check list of essential things that have to be checked off before starting to place bids on a property? 

Appreciate any suggestions, would also love to connect with any other investors in Florida; which is were I am focusing my investments. 

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147
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Jeffrey Edwards
  • Real Estate Broker
  • West Bloomfield, MI
77
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147
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Jeffrey Edwards
  • Real Estate Broker
  • West Bloomfield, MI
Replied

If no access to the property, assume the worst and create a budget based off of that.  I try to check local municipal records to see if there have been any permits pulled recently for the big ticket items (roof, furnace, a/c, etc.).  If you do acquire the property and it's not as bad as you think, then you're already ahead of the game.

  • Jeffrey Edwards
  • [email protected]
  • 248-270-2740
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