Auctions

[Lisa Renee]

Hello BP Family,

What are your thoughts on Auctions? How do they work and would anyone suggest them for first time buyers as an investment opportunity? Thank you and I look forward to reading your responses.

Lisa

[Colton Cook]

Lisa Renee ,

Auctions are a great way to get started. How to get into the auction varies.

Auctions are, in my opinion less competitive than the MLS, and there is a risk to buying an unseen property. However, the properties listed for our next upcoming auction are online, so we're going to drive by and figure out what we want and how high we'll go prior.

Ex: found one property, bones look good, bidding 2.5k, may need 20k of cosmetics, all in for 22.5k renting it out for 500/mo