I was wondering has anyone have got bids in a more auction style fashion.
I was thinking instead of spending time to walk every dang interested party through the home and different times. Divide the projects into sections. An example hard wood floors. Anyone that is interested in bidding on the project would show up all at the same time and either give open or closed bids.
The advantage is less time wasted, time in valuable.
Has anyone ever done this?
You might be trying to get too cute with the process. Subs aren't going to do an auction style bid, and will just walk out on you when you suggest it. And if a couple show up at the same time, one's likely to tell the other one " I'm not particularly that interested, have at it and don't worry about me bidding against you".
Dont waste the contractors time with something like that . Odds are you will get contractors together that know each other , they will talk to each other , you will probably pay more . " Hey Bill , I am swamped , how about you , I am a bit slow but not too bad. You want this job? Here I will bid it $900 higher than you , that way you get it and the guy thinks he is getting a deal ....
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing