All Forum Posts by: Jake Crouch

So I recently saw this link on my county website concerning LID foreclosure... with next to NO information given regarding what it is, how it works, when it's done, or really anything else on the matter. 15 minutes of google searching yielded ONLY what LID stands for (Local Improvement District). It appears these properties are auctioned off but I can't seem to find any more information about them. Is anyone up to speed on this and willing to school me for 5 minutes or so on what these foreclosures even are and generally how they work?

Thank you for taking the time to read my post! Thanks again for any information you can provide.

@Bruce Lynn I absolutely agree with the idea that "If they were all 10 cents on the dollar everyone would be doing it." Your suggested plan of observation was what I had in mind, though my target county does their auction over the internet. I figure I can register, provide the deposit, and observe how the properties that caught my eye end up being handled. 

The biggest issue I see with this is that I think I would really benefit from a mentor who is familiar with the specific area I am looking in, but because all of the counties in my state (or at least all of the counties I have looked at) do their auctions online, it is exceedingly difficult to network and make friends who are willing to share their experience. 

That said, I plan to keep at it. Persistence is 90% of any battle in my humble opinion. 

Thank you for the reply! 

(edited to tag Mr. Lynn)

Hello all! As someone who has always been interested but never able to participate in an auction I am wondering what properties usually end up going for at these auctions (deeds not liens)? People on reddit and YouTube love talking about how they bought property for 10 cents on the dollar but don't talk about how often that happens or how much they end up getting for an ROI. I'ld be willing to bet the 10 cents on the dollar thing is pretty rare or that their actual ROI isn't very good.

I am hoping to get a better idea of what the average percentage of fair market value I can reasonable expect to pay to win a property might be. An average percentage of repair costs to get the house up to fair market value / or sold would also be good.

Thank you for taking the time to read my post, and thank you again for any wisdom or experience you can pass on!