Narrowing the field


#1

?The problem that I am facing is that on any given day, for 1 particular city that I am interested in buying at TS sale, there are aprox 40 properties scheduled for sale. Sure I can weed out a few by property type, sq footage, lot size, etc, but that still leaves 30 or so active properties. That is too many to do field reviews, comp and title searches on, only to find out that many of them will get postponed or cancelled. Now multiply that scenario a few times for different cities and it is overwhelming.
With all that said, how do you determine which properties to focus on?


#2

Yes, this is the biggest change in auction investing in years. Just a couple of years ago you could pretty effectively look at everything, now it is nearly impossible for all but the largest players.
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Some strategies:

  • Narrow by location, type, sq ft, etc as you noted above.
  • Focus on lenders who have the best track record of discounting in your area. You can pick this up over time by watching the auction results using our auction search type at the end of each day.
  • Start researching as properties are added. A saved search that monitors new Auctions with your specific criteria works great (Save a Search, then run it using the Published Since option which automatically picks up everything since you last ran the saved search).
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