Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

User Stats

33
Posts
9
Votes

First Flip - Auction?

Larry Richardson
Posted

Auction March 20. 139K. Drove by and prop looks well maintained on outside. 1993 home in very nice neighborhood, 220 comps. 1393 sq ft.

My numbers were a $130 offer for short sale, and either wholesale it or drop the (complete guess here ) $20k in expected repairs. Even with using hard money, there is plenty of room for profit and contingency. I'm starting to look for some partners on this as well. 

The one thing that sticks out, is looking at Zillow history, this thing has been in a "state of foreclosure" basically since 2012. My concern is that they are professional tenants and would be difficult to get out, even if there is an auction sale.  

Is the auction a horrible risk for the first deal ?

Loading replies...