Flip or Flop, Breaking down a real estate deal, Vol. 3 Part 2

Good Money Monday BP,

     I'm sharing part 2 of the "Flip or Flop" deal we looked at last week. Yes, it was a terrible situation but I'm sharing this with you so you understand that us investors must deal with and work in unbelievable problems on a daily basis. Remember we were attempting to take over the payments of this house, but once I saw the condition, subject to was not a viable exit strategy.

     Today we had to approach this from a different technique. We're going live to the courthouse steps to try to by the house at the foreclosure auction. You'll ride with me to the auction to see how it's conducted and whether I can buy this one or not. Remember, we don't know the opening bid until the auction starts so we must be present. Watch and learn how we valuated this deal and how the auction ended. Tens of thousands of dollars of equity can be wiped out at these auctions but it's all up to the lender's discretion. This is my favorite type of deal....Get out there and help a lot of people, have a lot of fun and make a ton of money. Till next time....never give up!
Kris Haskins