Auction on site by real estate broker?

[Jung-woong Han]

Write your postHi my name is Han and I am totally new to real estate investment.

I was inspired by Lisa Phillips so was looking for property less than 30k at realtor.com.
I found property that says 15k and it says it is auction at site with 2500 cashiers check deposit.
Here is link 

http://www.realtor.com/realestateandhomes-detail/6...

My question is do you have experience about this kind auction? How did it go?

I just want to know overall experience.

Also what do you think about this deal?

Thanks.

[Ned Carey]

That auction is By AJ Billig, They tend to get good crowds and prices. Yes this will definitely go for more than $15K but depending on the condition perhaps not that much more. Another auctioneer for lower end properties is Ashland Auctions. They tend to sell closer to the listed price. They sell many in the under $15K range. I sold one through them for $3k! However these properties needed substantial work. 

You can find good properties for $30K. However not all $30K properties are worth owning. Or at the very least, they are going to  need work to make them rentable. .