Auction results seem to indicate VERY limited opportunities for third party


#1

Unless I am analyzing data wrong, IN San Bernardino county a huge percentage is going back to bank and very small percentage is being bought at auction by third party.?? So, in the month of April 09, there were?93 sold to third party,?1392 sold to bank and?597 cancelled.? my calculations tell me that in the month of April there were 2082 total auction properties and?ONLY 93 sold to third party.? SO 4.5% of the properties sold to third party.? I am third party.? I need to?analyze and be reeady to bid on 22 properties before I get 1.? Does this sound right?? I am a full time investor?but have never successfully bought at auction.? If anyone out there wants to show me the ropes, I’ll give you half of the profit on our first deal. ???I am looking in Fontana…but after a few I want to buy in Orange County.?


#2

Yes, that sounds about right. Unfortunately we can’t get the banks to post the discounts early, so we
often have no idea what to focus on until the last minute. So the key to being an auction investor in the current market is to develop processes that allow you to efficiently look at a lot of property such that you are ready to bid on the ones that are discounted at the last minute.


#3

Is there a certain place on Foreclosure Radar where I can find those discounted properties FAST?


#4

Use the “Auction” search type. You can easily scan for opening bids there.