** CANCELED **
If you go to the Jefferson County Commissioner's Sale, you'll find lots of familiar faces from KREIA there bidding on foreclosed properties. Some investors rehab their auction acquisitions and turn them into rentals. Others wholesale off the houses to other investors, and some rehab the houses and flip them to retail buyers.
Did you attend the L.O.T.S. event in J'town following last month's meeting? KREIA members Erik Hitzelberger and Bryan Snider were the hosts. Their beautifully rehabbed house is an example of a foreclosure picked up at the Commissioner's Sale.
While auction properties can lead to great financial rewards, they can also hide gotchas that take lots of time and money to resolve. The term "pig in a poke" may apply. If you're planning to bid on these unknowns -- because often you're bidding on houses that you won't even be able to inspect -- you need to arm yourself with as much information as possible.
Take advantage of the resources available to you: Other investors who have successfully walked the auction minefields many times and come out the other side with cash in hand.
They will offer insight on:
- Steps you'll need to take to be eligible to bid
- How to research properties up for bid
- Tips on how to estimate for worst-case scenarios
- Guidance on arriving at your maximum allowable offer -- and not going over it
- Websites they use to find auction properties (because the Commissioner's Sale is just one option for buying real estate at auction)
On Saturday, Oct. 28, several of these investors (we're still finalizing the panel) will offer tips and warn you about pitfalls.
Register now and save $50! Early bird pricing good through Oct. 27.
