Hi friends,
I have been investing in the Rochester & Buffalo area for the last few years and looking into Cleveland. I was wondering if anyone has experience with sheriff auctions that they can share.
1. Are there good deals at these auctions or am I better off looking elsewhere? If elsewhere then where besides the MLS? I like to purchase properties wholesale ( I am generally a cash buyer) that need small renovations and then rent them out. On occasion I am willing to flip but I prefer to hold for cash flow.
From what I have seen on the MLS it seems that prices are a bit higher than I think I should be paying considering the cash flow potential.
2. If there are good deals there (at the auctions) then what are my potential risks? Which liens must I be aware of and where can I research them? I know that I can pay a title company but I assume that pulling a title on a dozen properties prior to each auction will not make financial sense.
If anyone has experience I would love to learn more.
