Updated about 7 years ago on . Most recent reply
Auctions. Opportunity or trap?
I've been prowling for deals and stumbled upon a housing auction website. I found a couple of enticing auctions, in particular a duplex and a sfh, both of which are (according to the website) occupied.
Both are incredibly cheap for their market, and assuming they are occupied they are at least liveable. My issue is that I cannot see the inside, must buy as-is and cannot get any information on tenants etc before I buy. Some are incredible deals (the occupied sfh for example is $10k in an area that rents for $600), but I cannot shake the feeling that I could be buying into a trap.
Your thoughts?