Have a few Questions, thanks in advance

[Stephen Gracia Jr]

Good Evening,  

So, recently I've been doing personal research and I have some questions. So I go on Auction.com and I see houses available for $10,000-$35,000. Is there anything else I should look out for? I find it hard to believe houses are going for that price in decent condition where a monthly rent is usually $1200 for a 3br 1bath.  I would only pay property taxes as I'm fixing the property which is easily manageable. Im searching for advice because It seems too good to be true. I would like to preform a fix and flip to pay off all little debt and then I want to build a monthly revenue by buying houses and renting out in the future. Im ready to take my first step and I just want to be aware of previous experiences. Thanks in advance !

[Bill Crow]

@Stephen Gracia Jr You mention Auction.com and the opening bid prices they post. A couple observations about that sales venue: (1) Most of the houses I have observed there have seller‘s reserves. The teaser openIng prIce Is desIgned to build excItement and get bidders to compete. Houses don’t usually sell for that. Your market area may be different, but that’s been my observation in Texas and the Midwest. (2) You say the homes are in decent condition. Is that based on your personal walk-through, or just the auction site info? Don’t trust what you haven’t seen. I’m not saying the auction site is “bad”. Just helping you know what you are seeing when you view the site. I recommend the same diligence you would use with any other seller.