All Forum Posts by: Tony Nguyen

Thank you all for your post. I'm now thinking that even if the market does take a bit of drop in the next few quarters, I should be fine if I use the right guidelines for the property I'm buying to hold. No one can precisely predict the very bottom of the market so as long as my numbers work out positively, I should be able to withstand the market turbulence if it should come. Thank you all again for your post. It definitely helped!

Here in the Central Florida market, things are shaping up for prices to take another dip. Inventory is rising and demand is slowing down noticeably. I have a goal of buying my first buy and hold by February 2011 (I've only bought and flipped, never held).

If you knew that prices were going down more, is it still logical to buy and hold? Some have told me it's common sense to not buy if you know you're going to "lose money" but then again, some people tell me if you have positive cash flowing to your mail box, it's all good! Any input from you all would be appreciated, thank you!

Steve - very true. The psychological stages a bidder go through are so transparent sometimes and is truly amusing to watch!

Rich - Thanks for your reply. I see your point, but the auction here in Orlando is not a circus - 1 trustee, 1 property at a time.

I hope our county go online like Lake County did. That would make things so much smoother. Sitting in an office and making bids sounds like a dream!

Hi Everyone,

I realized that some veterans at the auction will have decoys bid for them.

For example, John is the veteran investor. Bill is the noobie. John tells Bill to bid on that property for him up to X under Bill's auction ID. Once Bill wins the bid, John comes up to pay for it.

Why do they do this? I'm thinking it could be because John, the Veteran, doesn't want other noobies to piggy back him because they know the properties he chooses is the good stuff?

Thanks in advance for any thoughts! :D

here in central FL, the county provides it free online. check with the public (free!) ones before you pay anything for it.

great story, just what I like to hear!

Hi everyone - I wanted to give you a quick follow up about what I did.

I called 5 law offices in the morning and asked them about 5 different properties that were going to auction at the end of this week. They all gave me practically the same answer - "the bank is our client and the max bid is confidential." With that being said, I could not get the info I was looking for (the max bids). Any thoughts? Otherwise - gotta keep digging!

Thank you everyone for your time. What I'll be doing is contacting the attorneys before hand to request for the max bid information and arriving early to the auctions to ask the plaintiffs if they have max bid info for any properties I'm interested in.

Thanks again!

Steve - great links, I will take some time and let all those soak in.

Sam - yes sir. max bid is the lenders max =)

Rich - I'm a fan! Thanks for replying. I heard about Lee County going online. That's great b/c here in Orange County, I'm paying a 3rd party about $125 per month for the info. If it goes online here, it should be much easier. Since it's not online at this point, do you have any recommendations as to how I can get the max bids ahead of time? Maybe not even all, just some would be nice.