Many investors pick up properties from auctions. The obvious auctions are the foreclosure auctions at the courthouse steps. Depending on the foreclosure rules for each state, auctions are where banks can unload their foreclosed properties.
Normally it’s investors who make up the bulk of auction buyers. They are all looking for a deal they can fix & flip or rehab into a rental property. Obviously, the investors are wearing normal clothes when they attend the auctions – not pajamas.
Thanks to the internet, though, more and more investors are attending auctions virtually. And that’s partly because more and more property is being sold at auction – not just foreclosures.
Sure, there are plenty of foreclosures still being auctioned off. But increasingly we are seeing lots of other properties going up for auction as well. These properties include luxury homes and commercial real estate offerings. Some developers are even auctioning off…
JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.