I have read several threads and from that , I have already started passing out cards at the foreclosure auctions in order to build my buyers list , along with other strategies that I've read.

For example if you have a really good deal you can simply take it to auction to resell it.

Things are pretty expensive around here, Initially i wanted to go solo on a couple projects so i went to the auctions and got over bid many times.

Some auction.com auctions give you clear title, some offer QC deeds only.

My biggest concern would be in locating and finishing ~4 houses in my first year as I start to network, attend auctions, troll the MLS, etc.

But I did attend a session at one of our REIAs about how auctions work here in CO.

Generally the rule of caveat emptor controls the auction.

Justin, the only time this worked for me was when a family friend was in charge of the reo's for a local bank years ago and we lined up to purchase it if no one bought it at the auction.

All the while selling the same line of BS to other countries at the bond auctions.

If a properties 1st mortgage was satisifed, however has a 2nd & 3rd mortgage, the 3rd mortgage forecloses, goes to auction, what happens to the 2nd mortgage, plse advise?