Why I Buy Property at County Sheriffs Sales
I have always been interested in real estate. From a young age I always dreamed of owning many properties. I also thought that someday I would be a real estate agent until I found out that real estate agents have a hard time buying property because of their profession.
Not being independently rich when I began I needed to find a way to buy property cheaply. I bought courses on no money down and studied them but figured that most no money down deals never happen.
I moved on to buying properties at tax lien sales in my state. I acquired many properties this way and still own some to this day. After making my money on the tax sales I have moved on to County Sheriff Sales.
In a county sheriff sale the proeprty being sold is usually a foreclosed home that the sheriff is selling for the bank. The only problem is you are competing with the mortgage holder and they usually win the property. They then have a realtor sell these properties for them.
So that is where I'm at in my real estate investing career. I own 5 properties in my area in West Virginia and have used the profits to buy two luxury homes in the Philippines where I will retire. I also own a residence in my hometown and am always on the lookout for more.
Comments (1)
I have tried this myself. I guess each state does it differently. In Texas the auctions happen on the first Tuesday of each month on the courthouse steps. In Tarrant County there are multiple auctions occurring at the same time within feet of each other. The auctioneers all have their own way of introducing the properties. One may read the legal description another may refer only to the physical address. The auctioneers do not talk loudly so you have to be close to hear. Each auction takes minutes and they move on to the next one. To be successful in this arena you better prepared and lucky. Happy hunting. How have things changed since you first posted this Ahmed?
Greg B., almost 16 years ago