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Updated over 8 years ago on . Most recent reply

Jessica Ely's profile image
Jessica Ely's profile image
Jessica Ely
  • Real Estate Agent
  • from St. Louis, Missouri
  • Member since Mar 5, 2015
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Jessica Ely's profile image
Jessica Ely's profile image
Jessica Ely
  • Real Estate Agent
  • from St. Louis, Missouri
  • Member since Mar 5, 2015
Connect
Jessica Ely
  • Real Estate Agent
  • St. Louis, MO
2
Votes |
4
Posts
Buying & Selling Real Estate

Auctions

Jessica Ely
  • Real Estate Agent
  • St. Louis, MO
Posted

Hello, my husband and I are getting ready to buy our first investment property.  We are going to purchase the property/pay for the repairs with the help of some financial partners.  We are hoping to buy a foreclosure/pre-forclosure etc for $20,000-$35,000 and put $20,000 or so into repairs, find a tenant, and refinance with our bank.

My main question is about auctions.  I don't even know where to begin.  Are there things to watch out for, things to make sure that I have ready before we move on a property? I am based in the St. Louis, MO area. Any advice would be appreciated!

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