Does this come priority over the 1st loan in CA at a foreclosure auction?

The margins on REO, like the margins on Auction properties are getting slimmer and slimmer.So what's left is marketing for your own deals.

I was at my first county auction yesterday and there were a lot of people with a general list with approx 75 properties listings that were suppose to be auctioned off day. granted many were postponed but to have that list that they possessed seemed really cool. i asked a guy where he got it from and he said foreclosure radar. lol i dont believe foreclosure radar has this auction list. not like the one he had, it was very thorough.with some secret ninja moves. i did happen to get a copy. and by ninja moves i mean by reaching into a garbage can after some one threw out a copy and this is what it look like. i've been searching and i did find one similar. but it did not as many listings for that particular day.

I was the guy sitting up front that commented on how all the online tax auctions over $1200 were being bid down to 1% and basically how I thought the whole online system sucked for investors compared to the tax sales that were held in person where (in my experience) no one bids down percentages.

It is not like a tax lien where there are statutory auctions.

Longer run visit open houses, go to auctions, see other investors rehabs, etc.

If a borrower stops paying for whatever reason, you will need to consider that property taxes will accrue and become the responsibility of whoever takes ownership at the foreclosure auction....

I usually don’t sing the praises of any third party provider.

Being in IL and participating in the IL auctions in the past, a 24%-36% return seemed high.

Thanks guys, my guess is that if I foreclosed, it would sell at auction in the high 70's and my payoff would be mid-70's by then, so the contractor will be mostly wiped.