Newbie looking at first Auction purchase
Hi!
I’m new to real estate investing. I’m looking at a townhome in my area that’s on auction for a starting bid of $37k with estimated resale of around $200k
I would plan on using it as a rental and it could probably rent for about $1000-1100.
Is there anything special I should know about auction purchases? Are there hidden headaches?
This seems like a good opportunity.
Thoughts?! Thank you!