Upcoming Commissioner Sale in Louisville, KY

5 Replies

Hello Louisville BP community, 

On July 28th at 10 am there is an upcoming Commissioner's Sale.  I'm interested in going just to see what it's like/learning experience.  Has anyone been?  Anyone planning on going? If so, I'd love to meet up with a more experienced BP member there to learn from you. 

@Kelly Bankes

I have been to many of these. I have had some luck there but I will tell you that 98% of the properties are purchased back by the bank. The remainder of the properties I find people overpay for. In other words I think it is very hard to get a deal there on a regular basis. I have been hundreds of times and I think I have purchased a total of 4 plus deals there. If you want to get deals there you must go all the time. I only go when there are properties I am really interested in on the list as I am very picky about my deals and I wont buy just to get an OK deal. I wait for what I consider GREAT deals. My thoughts are real estate will always be available so why push it and buy something that isn't really a GREAT deal. Also 99% of the time you can't get in the properties to see them before purchase, although I do look at them in some fashion. It's a little more risky than other ways of getting deals. All that said the 4 plus properties I have purchased there have been great deals. It's really luck of the draw. 

I would suggest you go and at least get the experience. It is a good place to network and to learn from others. Also it helps you to understand the market even more. I always say if you aren't learning your losing. Never hurts to have another tool on the tool belt.

Hope that helps. 

I haven't been in a while so I will review the list and if there are any properties I like I may go. If so I will let you know.

Originally posted by @Jason James :

@Kelly Dillon

Thanks Jason! I really appreciate your insights.  I'll keep those things in mind.

Just a reminder--the sale's tomorrow!

Hey Kelly, I went to my first one today. The process was about what I thought it would be and there I feel like some folks got some deals. How did this go for you? 

I was also able to network with some folks there and get the names of other investors inthe area who may have some apartment buildings for sale. 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

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.

Lock 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

Start here