Hey folks,
First timer here, so be gentle… :redface:
Does anyone ever buy and flip (after appropriate cleanup and such, whatever is necessary) through their own auction?
This, to me, seems fairly smooth from the outside looking in on a house that might not need alot of work. One closes on the property, cleans it up, posts an ad in the paper that says it can be viewed on a Sunday from noon to 4 and the auction takes place at 4 pm.
So, if you find a house worth $80k and get it for $50k, put $8k into it (actual deal I’m looking at now) and then hold the auction with a minimum bid of say $75k (comps are $80k-$95k).
What am I missing here?
Thanks!
Lodger