All Forum Posts by: Anca Alexandru Rader

Hey Davon, 

I currently invest in Chicago (Cook county) and am planning to invest in TN (but Chattanooga not Memphis).  What type of investing are you planning to do? Let me know if there's anything I can do to help. 

Thanks, 
Anca

If they are vacant you can see them as far as I know. I am in the process of buying 2 properties from auction.com and was able to get the code and look inside before bidding (I'm also an agent, so I was able to "show myself" the property). :) ..but you can just have your agent get the code and show you the place.

If you're an agent, you cannot represent yourself at auction.com. That being said, if you're not an agent, you don't need an agent to represent you if you make a bid at auction.com as far as I've experienced. I think all that happens is they get 1% of the price as their commission from what the auction.com customer service lady told me.

I would be more interested in talking to some more about auction.com's bidding process if anybody has bought a few places through their online auction.

Hi Lance, I invest in Chicago and looking at your numbers I would not take the deal, but of course you'd know the market in CO better. Remember that even if you manage it yourself, you should "pay" yourself for managing it. I bought a 4-unit in Chicago for 290k, but rent is 1,100/month per 2/1 unit. Another 4-unit for 130,000 (after repairs) and rent on those 2/1 apts is 850/month.

You should look a little more or run the numbers in an excel spreadsheet (include insurance, maintenance fees, supplies/repair, property management fees, etc) and then based on those numbers plug in whatever offer price works a bit better and how the seller why you can only offer $xxx,xxx amount rather than the asking price. ..just an idea.