Buying condos at an auction

[Arthur Botting]

I am thinking about buying a condo at an auction to fix up and resell. I live in Los Angeles and there is a healthy market for condos. I have never done this before and would really appreciate input form anyone with experience with this.

[Mike S.]

Margins are very tight on condos in L.A. most of the players at auctions are large companies that make money through volume, they have access to cheap labor and materials because they operate on a large scale. I would suggest trying to get a property using other methods.