Sheriff Sales Buyers Have A Secret
If you have ever visited the sheriff sales to watch people buy properties at auction you might not pick up on a few small key items. There is a lot of hustle and bustle so all of the activity can confuse newer buyers. If you pay close attention, you will notice that the same group of people seem to buy a lot of the properties. If you look even closer yet, you will notice that over a 6 month period some of those groups buy a lot one month and very few the next. Why are they doing this? They are patient and disciplined. Your experienced old timers at the sheriff sales have a system they have been following for years. They know exactly where their numbers have to be in order for them to jump into the bidding. They are not entering these bids for fun or on a hunch. The buyers that have been there for 15+ years are some of the most patient and skilled buyers in the flipping business. The big take away to learn from them is to learn that if your numbers don't work, you wait. You wait and wait and wait and wait. You never push your numbers just to do a deal as you are going to risk losing money. Experience buyers don't lose money and avoid situations that expose them to risk.
Ian Walsh215.839.3271
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