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Updated almost 9 years ago on . Most recent reply

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Ram H.
  • McKinney, TX
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Foreclosure auctions in GR

Ram H.
  • McKinney, TX
Posted

Hello everyone! I am new to investing in real estate and I am planning on buying my first property in the next month. I am very keen in exploring the possibility of buying a foreclosure and flipping it. I was checking out auctions.com and it looks like there are a few upcoming auctions for foreclosures in Grand Rapids area.

Has anyone been to one of these auctions at the court house? Also, if anyone is planning on going to one in the near future, would you mind if I join you?

Thanks!

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294
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Tim VandenToorn
  • Real Estate Professional
  • Rockford, MI
135
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294
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Tim VandenToorn
  • Real Estate Professional
  • Rockford, MI
Replied

Ram,  I attend every now and then when I see something I am interested in.  It is VERY important to know what your buying when you go to the county court auction.  You may be buying a second mortgage.   In addition the person can redeem the house for up to 6 months leaving your money tied up.  Although there are some ways to deal with it, I would not suggest as a new investor to buy your first property this way.

I would love to get together to help on anyway even if it is just to discuss the market in Grand Rapids and areas to invest.

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