Purchase price: $61,950 Cash invested: $61,950 Sale price: $148,100 Fix and Flip Project: -3 bed/ 2 bath-Basement-Purchase Price: $61,950 (Online auction)-Appraised Value: $124,000-Rehab Budget: $28, 497(Labor, HVAC, new water heater, paint throughout, new counter tops, appliance package, 2 light bathroom Renos)-Holding Costs: $1,500.86-List Price: $145,000-Outsell: $148,100-Realtor Fees: $8,886All In: $115,382Outsell: $148,100Total Profit: $32,717 What made you interested in investing in this type of deal?

@Margo RiveraTypically you have to buy it all cash at a foreclosure auction.

I've also attended "Free" webinars for various strategies including Wholesaling, Assigning Lease Options, Tax Foreclosure Overages, Vacation rentals, and Buying Tax Deed/Tax Lien Auctions.

I am sure the bank will probably make sure they win the auction since the borrower owes too much.

That's because he meant, "go talk to the guys buying at the foreclosure auctions."

Does this come priority over the 1st loan in CA at a foreclosure auction?

The margins on REO, like the margins on Auction properties are getting slimmer and slimmer.So what's left is marketing for your own deals.

I was at my first county auction yesterday and there were a lot of people with a general list with approx 75 properties listings that were suppose to be auctioned off day. granted many were postponed but to have that list that they possessed seemed really cool. i asked a guy where he got it from and he said foreclosure radar. lol i dont believe foreclosure radar has this auction list. not like the one he had, it was very thorough.with some secret ninja moves. i did happen to get a copy. and by ninja moves i mean by reaching into a garbage can after some one threw out a copy and this is what it look like. i've been searching and i did find one similar. but it did not as many listings for that particular day.

I was the guy sitting up front that commented on how all the online tax auctions over $1200 were being bid down to 1% and basically how I thought the whole online system sucked for investors compared to the tax sales that were held in person where (in my experience) no one bids down percentages.

It is not like a tax lien where there are statutory auctions.