What did you bid at auction?

I tried using this sites "Find a Lender" form, but it stopped me from moving fwd once I didn't meet the 20% down criteria.Scenario: Bank Owned property at auctionSales price/offer/bid: $270kRehab: $85kARV: $500kAm I barking up the wrong tree going down this path?

My #1 piece of advice is to make sure you gather true apples to apples bids, that account for the entire scope of the project.

How many bids did they share with you?

If the investor's opening bid is the only bid, then that is the market speaking regarding the value of the house being no more than the liens.

In the US, often, the price stays within reason of asking because of the market liquidity and historical pricing (unless in a bidding war).   

Home prices have shot up in the Poconos, there's very few homes for sale, there's bidding wars on the few homes that are for sale, and there's a drastic shortage of available workers.

I had bids come in to clean the building out and they were 50k plus.

If you in fact purchased a tax lien under the new system (people bid down the interest rate) then you are not allowed to set foot on the property and you certainly cannot cut the timber until after a judge forecloses your liens, quiets title, and orders the clerk to issue a deed to you.

Yeah I might stick with that, it’s hard to find deals anywhere but at least you can get deals done in the smaller markets, in addition to flip I got I lost out on another one by 4K and probably should have just gone higher, a few other deals I was interested in “only” got 4 offers and they were well priced, my point is it’s hard everywhere but you can deals done in these types of areas. almost any asset class in any major metro is just over saturated and you end up with a “ winners curse” when bidding .