Hudson & Marshall Purchase

[Mary Smith]

Has anyone purchased through Hudson & Marshall before? Trying to see what I should be careful with when dealing with them.

[Bruce Silverman]

Never heard of them...

[Mary Smith]

https://www.hudsonandmarshall.com/propertysearch?address=Atlanta,%20GA,%20United%20States&AddressState=GA&AddressCity=Atlanta&searchType=1

[Kevin Auyong]

there's one google review that claims they bought 7 properties through them but says company has changed and they wouldn't buy again

[Sebby Gabre Madhin]

Not a wide experience but did buy one from them this summer.  Everything went very smoothly for an auction property (actually a preauction bid accepted).  No problem with communication, etc.

[Michael B.]

@Sebby Gabre Madhin Were you able to get inside the property prior to placing your bid?  I have my eye on a couple of their properties, but I can never get inside of them.

[Sebby Gabre Madhin]

Yes. This one was actually listed on MLS and we were able to walk thru etc.

[Garland Young]

How did the experience go?

[Curt Smith]

H&M and Hubzu have different types of auctions, one type adds 2% or some large fee to your ending bid.  So you need to remember to subtract that fee from your calculated max offer and hang there.   So I've never gotten deals off M&H and way way back got one off hubzu.

I've bought maybe 12 deals off auction.com REO / bank owned/ auction.com calls them "on line auctions" fewer to no surprise fees on auction.com. All auctions are cash, real cash, not even hard money works since lenders need their appraiser to get into the property. Buy with real cash (anyones cash) then replace with hard money or 30 yr funding after you rehab.

All of my deals where "no access" but I've gotten into every house.  Rough houses are rarely secure...  On the other hand I've never seen anything walking these rough houses that caused me to say no.  I want rough, thats where I / you make money.  

Any auction, any rough house you have to keep your wits and not bid over your MOA, max allowable offer.

On auction.com and probably M&H / hubzu the seller or sellers agent may bid against you until the bid is over the secret reserve number.   Given this knowlege I only put in my max as my first bid and walked away.  There is NO VALUE in inching up the bid when under the reserve.  On auction.com when bid has exceeded the reserve its shown on uppper right.   

[Lynne Smith]

@Curt Smith thanks for sharing I'm currently bidding on a property. Probably won't be getting it. I put in an offer of 86k and it says "you're the highest bidder". About 2 minutes later it says I've been outbid. I bid in 1k increments and after we hit 100k it requires 2k increments. Now it's up to 126k and has consistently said I'm not the highest bidder. Can't tell if someone else has a proxy bid or if the seller themselves is the bidder. It doesn't say the seller bid against me... Wasn't sure if that is disclosed in every state or not. I really wanted this one but can't access the inside as its tenant occupied. I can tell it needs a new roof. Add the buyers premium . After all that and without knowing what the interior looks like, have to probably stop bidding. But it's tempting.