11/07 was the first time we were at auction physically, though we had bid on few properties in the past online . Was wondering what is the best way to get the list of all properties that are going to be auctioned on that day ? We got the list through auction.com, but that wasn't complete. There were multiple other firms that were auctioning , and we found some of them by searching on google, but it sure wasn't the full list. My contractor who has been in the area for years, suggested getting Marietta Journal on Friday and going through it, but I am thinking there should be a better way to do it online, create a spread sheet.
Also how do you all get the valuations on a given property (assume we shortlist few of them based on the area) - so that we can determine the max value that we could bid upto ? Saw that some people use RealQuestExpress - basic for doing CMA ...
Thank you for your inputs
Marietta daily journal for a Cobb county. The county uses newspaper for all of their properties.
Auction.com will have some online and advertise the ones for next month throughout November.
The best way to check value, is comps from the MLS.
I also suggest going to the Zillow page for the address, and looking at the neighborhood map and you can see what sales have been. Don’t rely on the zestimate alone.
Use equitydepot.net or best realtytrac.com for the pre foreclosures (4 weeks from the 1st tue auction). Realtytrac.com gives estimated value. You don't need dead on ARV, you just need approx as-is value to gauge if the house is worth your time and expenses doing pre-lim title etc.
I still feel trustee 1st tue auctions are a waste of time and dangerous for new folks. Its a professionals world at the steps!!
I'm in a local REIA, GaREIA, where auction.com folks sponsor events / talk and I hear bid prices near retail at the Atlanta area county auctions.
I've bought maybe 14 +/- houses off auction.com from the REO side (bank owned),. All good deals, but the trick was to buy in distant counties where the pro's don't bother bidding (and amateurs as well). Leaving me often the only bidder.
Find your nitch. Join local REIAs looking for who has the most experienced folks.
Your #1 question when hearing advice: when did you last do that? I'm closing on my most recent deal from auction.com in a few weeks. Don't waste your time asking from folks who don't buy many deals off the steps IMHO.
My advice is to find other ways to find good deals. New folks won't find them at the metro county 1st tue trustee auctions. I personally know several buyers fronting for hedge funds who buy at 10 GA 1st tue auctions. Why do you think you can eek out a deal?
Best of luck.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.