I flipped a few homes off of the auction block in Phoenix and learned real quick how bad people destroyed their places prior to leaving.* Hey Kyle!

I think we will see more homes going to auction now since short sales cannot find buyers.

Eventually, once the property was appraised by my bank, at $140,000, the seller dropped her price to $170,000, closing costs not included.The seller bought the property at auction for under $80,000 a year ago.The property is currently generating $2640 a month in income.I'm pretty happy with the purchase agreements.

They show houses that they are auctioning off (single family and Multifamily).

I also know that bidding in auctions leaves a lot of people frustrated, yet they keep coming back.

If the home has not been auctioned on the court house steps why not simply enter into a purchase agreement with this lady and attempt to do a short sale, if that doesn't work then buy it on the courthouse steps if you are in a position to pay cash.

I am trying to estimate property taxes on a potential buy that was an REO in 2009 (sold for $50,000 at auction).8 bedroom duplex asking $85,000 in Atlanta Georgia.Redfin shows:Tax (City & County): $2,250Tax Year: 2011The previous sale price was $370,000.Any evidence that the property taxes will stay the same or be lower if we close on the $85,000 purchase price?

Con-Ed takes too much time.You have to weigh your options and see what works best for you - but I personally recommend getting licensed if you are looking at doing this full-time.As to where to find good deals and foreclosures: Check some of the online sites that offer discounted, REO, foreclosure, auctions and short sale properties.

I've heard of 15% when HMLs are financing deals directly at the auction, but assuming it's an REO, 10%-12% is more reasonable.

How can a lease signed one month before the auction be valid?