All Forum Posts by: Darvin Ezell

I would focus more on how good of a deal it was vs how little it cost. I haven't bought a lot at auction but the best deal I got at one was:

Through the fog of memory (don't feel like looking up the exact amounts), in late 2021, I paid around 140k for a 4 bedroom single family detached property. I believe I put about 60k into the rehab which included adding a fifth bedroom to the basement. It appraised for 320k which is obviously a great spread but you have to remember closing costs, carrying costs, hard money costs and the cost of the refinance. When it was all said and done I still ended up being able to pull about 5 to 10k more out of it than I put into it.

Current mortgage including taxes and insurance is $1,519 and it's currently rented for $2,546/month.

Yes, you can buy a house at auction that you then flip and sell for market value.

And yes, I have participated in online auctions.