Developer · Fayetteville · Member since 2016 · 91 posts · 57 votes
9y
@Melissa Delgaudio my advice would be to STAY AWAY from auctions at all cost. There are a couple of reasons for this. First off, most auctions you cannot walk through before you start bidding, so it is purely gambling (unless your luck is supernatural you won't last.) Second is that, if in fact, you do get to walk the property you will be bidding against other investors. This will severely reduce the profit in the deal, where you make money in real estate is finding those quality properties at a discount and add significant value. Auctions so against my investment strategy so I would stay away from them, that is not to say you can't find deals as there are people who have success with them, but they are few and far between.