Auctions

[Lisa Jones]

Any advice on auction of foreclosed property?

[Alex Hamilton]

Hi  Lisa:

I will not be as blunt as Ron Scribner but he is right.  Property is sold ti the High bidder, and more often then not it's the Mortgage Company.  I suggest you avoid as many auctions as possible, find out who is about to be foreclosed on, contact them and offer help. I.e. "Cash for Keys" cash to relocate and you take up Notes, Pay for re-instatement, if they will agree to mortgage subject to sale.  Ask to pay the property out right, and lease purchase the property back to them.  Just a free of the techniques I use.

You just got for free what the real estate gurus say in a hundred different ways in a course, that will end up costing you thousands. So, stick with Bigger Pockets, and share your experiences, as they are the best teachers.