Foreclosure Auction questions in San Bernardino County
Hi there! We currently own a STR and have always looked at this one unkept (that's being nice) house on our street thinking it had so much potential. Well now it is up for Auction this July.
I’m totally new to foreclosures and auctions and could be wrong. However I think we could potentially get a killer deal on this house because we are so familiar with the neighborhood but others may not be. Also the house looks like it has somewhat scary owners/tenants that most may not want to deal with. We would plan on an extensive rehab.
Auction details
est resale value - Not Available
est credit bid - Undisclosed
opening bid - $70,000
est debt - $261,676
I think Conservative ARV $275-$300
I have 2 questions...
1. Is there a way to determine what you think the property may end up going for (a ballpark)
2. How difficult is it to get tenants out, assuming the worst. Because I think that may very well happen with this house.