Difficulties of being low on cash

[Chris E.]

I've seen it happen several times, I'm sure we all have. Just recently I was at a sheriff sale where a 2500sq ft river front ranch on almost a 1 acre lot was up for sale. Saw it the night before and did a little research. Tax assessment was a little under $220,000. Looked like a nice house outside. Didnt see the inside. Amount owed was just under $200,000. Bidding opened at $120,000 and nobody bid on it. Sad when you don't have the money to take action. There were only 4 or 5 people there and no one bid on any of the properties they had.

Some day...Until then Im forced to stay looking for sub $50k houses