Did anyone go to Auction.com's Philadelphia auction event?

5 Replies

Hey everybody,

I'd like to see if anyone went to auction.com's Philadelphia auction event held last Saturday. I'm curious to know if anyone here purchased anything and what they thought of prices. I saw houses being auctioned off for more than twice what I would've paid for them. However because we spent the weekend prior looking at over 30 properties in the area to prepare for this we wanted to connect with anyone doing some investing in Philly. Looks like a good market to play in. Any insight would be appreciated. 

Over 70% of properties were sold.

I️ was there. It was an interesting event.

And sellers were on hand and many took less than than predicted bids as well.

@David Weintraub

Do you think that they were really being sold at investor prices? I know auction.com did well that day, but the highest bid prices were more like retail prices to me. 

I go to the Philadelphia sheriff sale too and they are bidding like crazy. Are they overpriced too?

I️ know one person who overpaid a bit but he’s planning on buy/hold and get cash flow in the city.

I️ can find out the numbers if it’s that important but I️ think there were many seasoned investors there who I️ know purchase at the PSFSale. They made purchases.

Have to figure wife 70% sold a decent amount were ripe for investment. Surely some went to high.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here