Seeking advice or mentor in foreclosure acution purchases

[Melissa Hartvigsen]

Hello BP Community!

One of my clients is interested in getting into buying houses at foreclosure auctions, and then rehabbing them for re-sale. Are there any local PDX investors in this area willing to share advice or be a mentor?

Thank you in advance!
Melissa

[Eliott Elias]

Your clients are going to have to close the deal in cash. Have them go to a few and spectate before purchasing. Most can be bought before auction. 

[Mike Hern]

Quote from @Melissa Hartvigsen:
Hello BP Community!

One of my clients is interested in getting into buying houses at foreclosure auctions, and then rehabbing them for re-sale. Are there any local PDX investors in this area willing to share advice or be a mentor?

Thank you in advance!
Melissa

Ask your investor if they are willing to buy a house using cash, with the inside of the house sight unseen, from someone who stopped making their payments, who also stopped maintaining the property and you can't do a walkthrough or inspection before purchashing. Then have to evict them. By the way, some people destroy a house just before the sale. I've seen concrete poured down sinks and toilets and tub, wires stipped out of the walls, holes in walls from sledge hammers, drugs, feces, **** roaches, rats, and a raccoon or two. It's an interesting way to buy a job.

[Melissa Hartvigsen]

Quote from @Eliott Elias:

Your clients are going to have to close the deal in cash. Have them go to a few and spectate before purchasing. Most can be bought before auction. 

 Thanks for the tip!

[Melissa Hartvigsen]

Quote from @Mike Hern:

Quote from @Melissa Hartvigsen:
Hello BP Community!

One of my clients is interested in getting into buying houses at foreclosure auctions, and then rehabbing them for re-sale. Are there any local PDX investors in this area willing to share advice or be a mentor?

Thank you in advance!
Melissa

Ask your investor if they are willing to buy a house using cash, with the inside of the house sight unseen, from someone who stopped making their payments, who also stopped maintaining the property and you can't do a walkthrough or inspection before purchashing. Then have to evict them. By the way, some people destroy a house just before the sale. I've seen concrete poured down sinks and toilets and tub, wires stipped out of the walls, holes in walls from sledge hammers, drugs, feces, **** roaches, rats, and a raccoon or two. It's an interesting way to buy a job.

Hi Mike,
Thanks for your reply. I already had that conversation with my client and they are willing to those risks. Looking for advice or mentorship from folks that do it regularly.

[Yuqiong Li]

Melissa, you seem like a good agent who has your client's best interest at heart! 

[Corby Goade]

Quote from @Melissa Hartvigsen:
Hello BP Community!

One of my clients is interested in getting into buying houses at foreclosure auctions, and then rehabbing them for re-sale. Are there any local PDX investors in this area willing to share advice or be a mentor?

Thank you in advance!
Melissa

Not all foreclosure auctions require cash and not all are sight unseen. They're all different depending on the requirements of the bank, so don't let those things stop you.