Updated over 15 years ago on . Most recent reply
grabbed a nice 3 family at auction
been waiting for a day like this for about a year...grabbed a large and good condition multi family at auction the other day...i show up for the auction and there were 4 potential bidders, the bank rep said he thought the auction would be postponed (like so many others)...so the other 3 bidders leave, i decide to stay...the auctioneer shows up 30 min late and they have the auction and im the only bidder...bang!
all auctions i've attended lately (probably about 100) there have been 10-20 bidders trying to grab multis in the Boston area, although this one was about half an hour north of Boston, still close enought and a good deal
will cash flow about $2K on this one once its up and running...will fit in nicely in my rental property portfolio
Most Popular Reply
Nice job!
I am so used to seeing any real deals just swarmed with buyers (because the are few and far between) that I wasn't even paying attention when a 5 acre parcel with 2 homes and 4 septic systems when to auction at 85k (balance of first mortgage) and REVERTED TO THE LENDER. This place needed some work and was listed 30 days before the sale for 265k. I think it would have sold for 190k easy.
Might be something I couldn't see in the records that would have made it a bad deal.
Should have been watching!