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Updated about 8 years ago on . Most recent reply

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Brock Mogensen
  • Real Estate Syndicator
  • Milwaukee, WI
907
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1,570
Posts

Sheriffs Auction Advice

Brock Mogensen
  • Real Estate Syndicator
  • Milwaukee, WI
Posted

When you are running the cash flow analysis on a sheriffs auction property what dollar amount is a good estimate for repair costs?  I know its a pretty vague question but is there a general amount you would use (based on units/property size).

For example it is a single family property and since it is a sheriffs auction property I was not able to view the inside of the home.  I drove by the house a few times and everything on the outside is solid and wouldn't need any repairs.  I noted things like a clean yard which would make me make the assumption that the inside has to be somewhat similar.

I used $10,000 in repair costs when running my cash flow analysis. 

Any further advice in regards to buying foreclosed properties, specifically sheriffs auction tactics is greatly appreciated!

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