Courthouse step buyers

7 Replies | Atlanta, Georgia

Originally posted by @Chaz Jenkins :

I am wondering the same thing. Did you attend the auctions yesterday?

 I attended in a county outside of Atlanta. The company(who I won't name) based in Atlanta bought all nine houses that auction.com had where 6 of the nine had no equity and were junk.  They spent about a million dollars and have been for the past few months and I was just wondering if they were also doing this in the Atlanta counties.

Good question.  I was at the Fulton County auction yesterday and watched a couple of groups of people that appeared to be working together.  However, if they use multiple company names it may be a lot to trace.

Why would a hedge fund or anyone pay retail or buy at top of the market? Rents and prices in metro ATL will grow over time so maybe they are long term play who knows.