Autions - Thoughts/Advice Needed

[Rahul Sunkavalli]

Looking to see if anyone has experience with buying properties via auctions for flipping or rehabbing then renting out. I recently learned of auctions and even took the initiative to attend one near me. Most of the properties were kept by the plaintiff but there were a few that had a bidding war, but I could not see why. 

Got me curious to figure out and of course I think any advice will much appreciated on auction process. Any recommended books?

Thanks in advance!

Rahul

[Tom Gimer]

Auction.com handles foreclosures too... and likely H&M as well... so this is dangerous water to wade in without experience.

Absolute first step is to learn how to access all necessary public records in order to conduct a basic title search on your own. It becomes clear pretty quick when a property is underwater on the first and not worth bidding on.

Never trust anything from an auction company website because if you read closely enough you'll find that in the other print (often in bold) is a statement such as "for information purposes only -- buyer must independently verify all information"