Competing with professionals at auction.

[Jared Bockoff]

How do I deal with the professional investors at the local auctions - Southbay, Los Angeles. 

How should I expect the so called 7-Angels to react to my bidding and would i have a better chance of success buying from one of them directly shortly after the auction (or something to that effect)?

Thanks

[Jay Hinrichs]

some times that can work they may take a quick flip price.

or you just put up your best bid and hope you get it... pretty tough to compete against the big players as they will run on lower margins since they are doing volume and probably can rehab cheaper etc etc.. they may have in house RE brokers for their listings.

when I was active in PDX market and one of the top 3 buyers... I had my own RE company so I listed all my own.. and I had my own crews that were employee's so hard for others to compete with me on the buy side when I save 3 to 6 % on resale fee's and could rehab for 20 to 30% less than others who had to hire it all out...

I don't know how tough these guys are on newbies coming in.. because there is usually anewbie or 10 at each sale..But one crew I knew up in Clark county WA..(Vancouver )  would actually buy a property for no profit if it meant trying to discourage you and get you to leave.. I went head to head with them.. but then when they knew I was not leaving and I had as much if not more purchasing power then they did.. we ended up partnering up on everything and that was great I just supplied money they did all th e work we split profits prorata to our invested dollar .. did that for 5 years.