How should I prepare myself to be the professional auction buyer?


#1

HI! everyone?
I am the member of forclosureRadar a while now and I am ready to go out and do the auction buying at the court step. I have couple million dollars, partners, supporters and plan in mind. But still I am afraid how to start.
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My target is buying the property at 60% by analyzing the value and situation of the property as many as I can. I will buy 1-2 homes a week which is around 3% of the third party sold property in my county.
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Anybody experienced or professionals share the ideas, tactics especially what kind of ground work I should do on top of my current level of experience which is not bad.
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Thanks


#2

Hi Joe - that all sounds pretty good, except that 60 cents on the dollar might be a little optimistic. You may occasionally get one at that discount or more, but probably no on average.
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Unfortunately auction pros are notoriously tight lipped and usually not too anxious to share any tips. You might try reaching out to auction investors in nearby counties where you have no plans to compete.