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

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.

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.

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

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

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

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

I always was a slow learner. Thanks Rina.

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

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

Rina

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

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.

Rina