I learned the county auction process.  

Besides the typical “as is”, no financing contingency (as in the case of this auction), what other contract contingency do you recommend?

I'm thinking about buying some of these distressed property in my area on the auctions that's bidding starting of a $1 , My father who is a contractor is willing to do some slow fixing it up while I continue to build more capital up and get more houses.

Extra monthly payments is great passive income and the down you can get goes to your cash buyer fund.Not that this is what you should be doing without appropriate background knowledge and experience, but it's an example of how barriers in real estate are really just tests of persistence.Reframe your mindset from, "I can't afford to buy an auction property cash" to "How can I buy this property without cash?"

On the courthouse steps is CASH in most cases within a couple of hours normally of the auction depending on the trustee.Many if not most foreclosures get bought back by the lender and then sold as REOs or Real Estate Owned. 

You'll probably find that they drive for dollars, buy at auction, use wholesalers etc. 

Hello bp community, I am interested in the deed sale property sold at the county public auction in NY state.

People aren’t able to make payments on loans and some will not be able to return to work.Foreclosures has a backlog and no properties that can not move forward to the sheriff auction stage.On the other side of the market we have the open market (MLS) that is competing for a very small and very scared buyers pool.

I guess it's good that they aren't losses.I want to start getting into buying houses at foreclosure auctions but it seems very risky.

I’m thinking of buying houses at auction.