All Forum Posts by: Kevin Norton

Hubzu is a farce...!!! I suggest spending your valuable property research time elsewhere.!! I was just recently the high bidder on a property that has been sitting vacant for over 5 yrs... Knowing the condition and occupancy status which was vacant (even though Hubzu stated occupied on website property bid page.?) My guess on that miscue is most likely their excuse for not having to have a Broker supplied and available to show it to prospective buyers...just have the buyers think it is occupied, less work for Hubzu and their agents..?? Soon after the winning bid the website states the status of property and bid is Under Review, so I wait...following day after sale no phone call or email from Hubzu...so I wait...2nd day after sale still no phone call or email from Hubzu. Basically your high bid is just an opportunity for Hubzu to offer you a choice on the website to raise your bid higher to reach the "Seller's Price"? Huh...?? Maybe the name of the auction website should be Huhzoo...!!

Is this truly an auction process...?? I think not...!! I have purchased many properties at local foreclosure auctions and the high bid you make and win is the price you pay...!! Can you imagine a scenario where a live auction is taking place and the Auctioneer cries out "Sold...!!". You as the high bidder, ready to fill out the purchase contract, is told by the Auctioneer that you have to pay a higher price if you want to actually buy the property. Is that really ethical and good business practice..?? I don't think the Auctioneer and the foreclosing Bank would be in business too much longer after they continue this shady process.

My opinion is to stay away from these on-line auction websites and spend your time more wisely hunting down deals through local Brokers and other Investor/Wholesalers. I wasted a lot of time with this misleading process of on-line bidding...Can I call over to India and have them pay me for my time spent on this wasted endeavor...!!! Thanks for nothing Altisource and Hubzu (Huhzoo...!!)

Hubzu is a farce...!!! I suggest spending your valuable property research time elsewhere.!! I was just recently the high bidder on a property that has been sitting vacant for over 5 yrs... Knowing the condition and occupancy status which was vacant (even though Hubzu stated occupied on website property bid page.?) My guess on that miscue is most likely their excuse for not having to have a Broker supplied and available to show it to prospective buyers...just have the buyers think it is occupied, less work for Hubzu and their agents..?? Soon after the winning bid the website states the status of property and bid is Under Review, so I wait...following day after sale no phone call or email from Hubzu...so I wait...2nd day after sale still no phone call or email from Hubzu. Basically your high bid is just an opportunity for Hubzu to offer you a choice on the website to raise your bid higher to reach the "Seller's Price"? Huh...?? Maybe the name of the auction website should be Huhzoo...!!

Is this truly an auction process...?? I think not...!! I have purchased many properties at local foreclosure auctions and the high bid you make and win is the price you pay...!! Can you imagine a scenario where a live auction is taking place and the Auctioneer cries out "Sold...!!". You as the high bidder, ready to fill out the purchase contract, is told by the Auctioneer that you have to pay a higher price if you want to actually buy the property. Is that really ethical and good business practice..?? I don't think the Auctioneer and the foreclosing Bank would be in business too much longer after they continue this shady process. 

My opinion is to stay away from these on-line auction websites and spend your time more wisely hunting down deals through local Brokers and other Investor/Wholesalers. I wasted a lot of time with this misleading process of on-line bidding...Can I call over to India and have them pay me for my time spent on this wasted endeavor...!!! Thanks for nothing Altisource and Hubzu (Huhzoo...!!)

Thanks Edgar and Dave...nice to get a welcome message from a member half way around the world. I had to look up Cebu to see where you are located. Wow...! amazing how we can connect thru the internet and BP. Would love to travel to Cebu...any real estate deals there.? I need a business write off for travel.

Thnks for setting me straight @Kristopher K....I think it is time for getting a new laptop as my system is outdated and not working well with all the new technology. Kind of like getting rid of an old property that is throwing off good cash flow...I don't want to do it.

Sorry if I do not reply the correct way. I am still trying to learn the BP community system. Like learning how to buy my first property many years ago...!!

Hi Mike, Long time no see...hope all is well up there in the N. Shore. Been keeping busy down here in the S. Shore with my multi's and the slowing Foreclosure market. Been following Dave Van Horn of PPR Note Academy. Have been researching some of the notes they have been selling. Mostly non-performing 2nd's with properties that appear to be well underwater...lots of risk there. What has been keeping you busy and who is the speaker tonight..??

Hi Mike, Long time no see...hope all is well up there in the N. Shore. Been keeping busy down here in the S. Shore with my multi's and the slowing Foreclosure market. Been following Dave Van Horn of PPR Note Academy. Have been researching some of the notes they have been selling. Mostly non-performing 2nd's with properties that appear to be well underwater...lots of risk there. What has been keeping you busy and who is the speaker tonight..??

Thank you to all for the recent posts welcoming me to the community. As I deal with mostly multifamily I am all ears when it comes to other facets of the real estate business. I am not afraid to go out of state if the potential is there for a good profit or consistent return. "Want to get away...?"

Please reply with any feedback on Brad Sumrok who states he specializes in Multifamily acquisition and mentoring. He has been holding Investing Weekend Training Events.

Thank you.
"Irish Kevin"

Thanks for the welcome Marc. I know the market in RI is much different than here in the Boston area. You may have better opportunities there due to price ranges per door as long as the rents are increasing.

Pats do not look good tonight...just like the markets the teams are always changing...