Has anyone been to an auction / I found property starting bids from $500-$5000

Has anyone been to an auction / I found property starting bids from $500-$5000

REDC is having their auction in my city this week and I was looking at some of the properties on their website and some had a starting bid of $500-$5000.

These homes were out in the desert in an area that's growing with new homes.I was wondering with so much inventory out there,can these deals be pasted up and acually sold at that price.Has anyone seen something like this at an auction.

Of course will need lots of rehab,but I see some cash flow from this.

__________________

Jason S.
San Diego, CA.
**All CASH House Buyer!**
Refer Us To Neighbors, Friends & Family, Earn $1,000
LIKE my FB page http://www.facebook.com/JandBHouseSolutions


REDC

they hold REO auctions all over the country.I`m going to the 2/16/09 here in west palm bch.a couple I know have bids in on 1, an I`m going to look at a couple in a zip I track. actually I`m tying to see what is up with 1 property. I went to my agents office monday to put in an offer on it and another. She told me to check this neighborhood, an doing so I came upon them,so after doing zillow and my appraises sites I had he rdo the comps. At the time they it was for sale on zillow an on the MLS for 79k,but she informed me it was sold.but it`s still on REDC and the county appraises shows nothing, but zillow show its sold also.


REDC

Man I hate to miss that 1. I walked it an was very impressed. The starting bid is 49k and my offer was going to be 40k to the bank. But listen, inspect any you want to bid on. you can get some good deals if you can find the finance.


REDC

I have been to these auctions, and bought a home. The banks do put a reserve bid on the homes which is usually quite a bit more than the starting bid. They do not let the bidders know what the reserve is. I did find that after comping the properties, they went for 50% to 75% below comps. Be sure you read all the information about the sale. They are alot of fun to go to. I had a thread about this, with more detail, but I don't know how to attach a link.

Al

__________________

"NOW GO FIND A DEAL"

Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.

Frank Outlaw


alchristmann

Al,
I did see your thread about this before, do you remember the title of it? Easy of find with that info.
Thanks
Angela


REO Auctions

This was the title. I pulled it back up so it is easier to find.

__________________

"NOW GO FIND A DEAL"

Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.

Frank Outlaw


Link

Rina gave me a quick education on posting a link. This is the link to the REO Auctions thread(I hope).

http://www.deangraziosi.com/node/6413#comment-19267

__________________

"NOW GO FIND A DEAL"

Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.

Frank Outlaw


.

Smiling

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


must be me

I always was a slow learner. Thanks Rina.

__________________

"NOW GO FIND A DEAL"

Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.

Frank Outlaw


Whaaat??

Al, are you kidding? Do you KNOW how much I've learned from you? Thank YOU!!

Anyway, I think if you just add the 2 slashes it's good to go. Then I'll take mine out. (btw, I learned the link thing from Hazco after I got frustrated trying to figure it out. don't feel bad. lol)

ALWAYS learning from your posts,

Rina

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


Jason,

Did you find out any more on your auctions? You should go one way or another. good learning experience.

Rina

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


Found out Investors are in Town

I want to thank Al for re-posting his thread on auctions.I don't think I can make it to network at the auction tonight.Stuck watching my little one's.But I have been on this computer allday and found out from vic-DGFAM member that he got a lead from his craigslist ad that Investors from out of town are buying 30 properties in 2 weeks while they are in my city.That's just one Investor,So I'm working around the clock to find deals.

I just posted on craiglist:

Investor's from out of town who are going to the auction tonight read my post

I'm a Wholesale Investor with a couple of offers pending.I can shot you an email when a deal falls through.Also I know San Diego very well and if you need a birdog while your here, I'm hunting for those deals everyday.

Please contact me with any questions

thanks,
Jason
Investor

__________________

Jason S.
San Diego, CA.
**All CASH House Buyer!**
Refer Us To Neighbors, Friends & Family, Earn $1,000
LIKE my FB page http://www.facebook.com/JandBHouseSolutions


Nice thinking!

Jason Smith wrote:

Investor's from out of town who are going to the auction tonight read my post

I'm a Wholesale Investor with a couple of offers pending.I can shot you an email when a deal falls through.Also I know San Diego very well and if you need a birdog while your here, I'm hunting for those deals everyday.

Please contact me with any questions

thanks,
Jason
Investor

That should catch their attention. Not generic. They see you're someone on the ball, bringing them what they want WHEN they want it. Great!

Keep us posted on the response. Eye-wink

Rina

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249