Auctions

7 Replies

Every market is different

I was attending the Atlanta auctions back in 2012. We were the cash guys and had a team pre established that were doing the leg work.

In Rock hill SC my home and office is here. I went to the local auction last month. I had my lady who does title work. Picked out 26 homes that we were bidding on. Was hoping to buy 5 to 10 homes. We got skunked the banks are buying everything back.

Charlotte NC is another market we tried to venture into. They have an upset bid still trying to comprehend. basically you win the bid but some one can upset the bid. I found one local investor who does very well at the Charlotte Auctions. So I just try to buy from him.

So not saying don't go but find a mentor who is already established in your local market. There are a lot of sharks at these auctions. Just like anything in real estate knowledge is the key.

Hope this helps

Alex

Originally posted by @Marjorie Cadet carlyle :

Does anyone have experience with buying a house through an action?? Thoughts??

 Hello and welcome!  I do not have any real experience at Auctions I have been told to just go to check it out.  Do not actually go there to not buy until you are ready.  I have been listening to some guys who have been buying at Auctions for 20 years.  It depends on what you are looking at to buy at Auction.  Allways look at the property before you buy it and run true and real numbers.  Just like any real estate it can be very stressful if you let it.  The more you learn about it, the better.  I am 59 years old and I have seen a lot.  I did graduated from college with a business degree.  I got that degree and a broker license in 1980.  Regardless of that degree Andy ice second i felt more comfortable with the construction busines.  I have been in the construction business since I was 17.  If you think I might be any help to you please contact me at any time.  Good luck!

Originally posted by @Marjorie Cadet carlyle :

Thanks Alex, how do you do a title search? I have looked online for tax records so I know how to look up that. I have researched comps, anything else that I am missing?? I am in the Atlanta market. ..

 We pay a paralegal person here in Rock Hill 150.00 a deal to do title work for us. 

Always worth it 

Ask away 

Alex

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