Just purchased my first deal at auction!

[Evan Bonnell]

I just purchased my first deal at a sherriff's sale. Purchase price was $24,500 and I'm thinking it could sell as is for $50k or rent for $750 - $800/mo. I was able to see inside by peeking through the windows and it looks pretty solid. The electricity is off but there wasn't any flooding in the basement, which I was initially worried about. I did plenty of due diligence and had a professional title search done before bidding. 

Just wondering if anyone else has had success with foreclosure auctions? How long until I take possession? How long before I can get the electricity turned on? How long should I wait until I call a locksmith to enter?

[Account Closed]

Will this be a flip? Begin a relationship now with the agent you're gonna hire to sell it and he will guide you through the process. Get that deed in your hands and the property is yours to do with as you will. Best of luck with your investment.