Auctions, other options for cash buyers.
I'm an investor and licensed salesperson from the central coast in CA who is looking to diversify and buy a rental(s) in Florida. Most of my experience has been on flips here in central California but I have a couple SFR's I am holding. I have picked up ~90% of my properties at auction (trustee sales, online/bank owned, and tax auctions) paying cash. With median prices here pushing $1 million and massive tax disadvantages, I want to invest and live elsewhere!
I'd like to find a multi-family or a couple SFR's in Florida to buy and hold, potentially living in one. Open to short-term if that makes sense as I already manage one vacation rental in CA.
I see auction.com, Xome, etc have a few listings for bank owned properties but without local knowledge I'm not so confident I'd buy online. Are auctions a viable way to leverage a cash position? Or what would those in the area suggest with all the competition out there? I assume in person trustee sales are not happening due to corona? Your insights in the local market for leveraging cash are appreciated.
Cheers,
Jay