All Forum Posts by: Gabriel Ehrlich

I wanted the revive this thread and ask @Luke H. - did you ever implement this strategy? How did it work out for you?

@Tom Gimer That's another element that seems like it could be a big headache... Removing the previous owner from the house. Unfortunately, it seems like the best deals that come up are usually occupied which makes sense considering the extra hassle of getting the previous occupant out.

@Nathan GesnerI've bid on pre-auction houses before that landed on the MLS but my agent handled it. That's a good tip though, I'll need to check out some of these houses to see if pre-auction bids are accepted.

@James W. Glad you had some luck with it... In my head I picture it to look a lot like an auction on the show "Storage Wars"  How was your experience? were you able to actually visit any of the properties? did they remove the occupants once you closed (assuming it was occupied?)

The other scary part that I forgot to mention about some of these deals I’m seeing, is they are occupied meaning there’s no way to actually see the interior!

Elizabeth Wilson I’ve heard of similar experiences from people I’ve networked with. Apparently the auctions cause a “feeding frenzy” in most cases. But I guess sometimes you can get lucky like Harris Smith and find a winner at a good price! Harris Smith so you have any tips that you have found made you more successful when bidding or attending auctions?

Hey BP!

I am a part-time Real Estate Investor out of Baltimore. I was just curious if any of you had  luck using auction houses such as Alex Cooper or Hudson and Marshall to find your deals. I've always wanted to attend an auction but they seem to be scheduled during the week at an obscure time where I wouldn't be able to easily leave the office. I would be more motivated to attend if there are other investors on here doing it successfully.

For those of you using auction companies, do you have any tips and tricks for a first time bidder?

Valid point @Kimberly H.! @Kyle Stoltzit wouldn't hurt to vet a few more brokers in the meantime while you figure out this guys situation.

@Kyle StoltzIts possible that he had a family emergency. However, with that being said, if he is simply being unresponsive I would start looking for another broker.

 He is making a commission off the loan you purchase and therefore should be available to help and serve you in a timely manner. You may want to find out exactly why he is being unresponsive before you make the final decision, but to me honesty and reliability goes a very long way and he  has proven himself otherwise

Best of luck to you!

Hi @Mark Burik, I agree with @Jeff Copelandon this. But before you consult an attorney and pay their fee I would first focus on whether you would be able to sleep at night taking this deal. You may very well be fine with this in which case I would recommend contacting your attorney.

From my experiences in court (not real estate related), it is a very slow process and you might find you signed up for a bigger headache then you anticipated. If the homeowner is truly committed to keeping her home there are a number methods her attorney can use to to draw out the legal process. You may find your time is better spent looking for other deals.

Additionally, if this does go to court and she is forced to take the deal she may  destroy the property and at that point it would be more than just tile work to fix!

Certainly a lot to consider Mark. Let us know how you end up handling it.

@Jared R.that's that same thing that my realtor explained to me. The main part that concerned me was the fact a sign was posted but nothing was mentioned in the listing. So the issue was: is posting a sign on the window enough to warrant the obligation of disclosure. I guess it no longer matter as the home in question was snatched up a day before I put the bid in! :(

@Ed RegisterThanks for pointing me in the right direction. I think ultimately it would be best to forego the $300 and ensure there isn't an abundance of mold in the house.