Posted by Dave-Fl on May 12, 2004 at 17:40:02:
Just curious.
I attended a few in Orange Co. and this person seemed to be the only one bidding to buy.
He was probably early to mid 20’s, sandy blonde hair and thin as a rail.
Like I said, I was just wondering.
buying at auction question… - Posted by Sean
Posted by Sean on May 10, 2004 at 18:32:48:
I live in the Central Florida area and have recently attended a few auctions on the courthouse steps. I must be missing something though? I have observed several investors purchasing properties at the auction for pretty close to market value? Some even purchase at market value??
Why spend the time and cash to purchase a property at market value when they can have a much bigger selection on the MLS if they want to pay full price?? These investors are not 2nd lien holders. The properties are all SFR’s.
Upon further research of the county tax rolls, I have found several other real estate investment companies purchassing homes at the court house steps for market value.
Can anyone shed some light on this?? Am I missing something here or are these people just not making very smart investments?
Re: buying at auction question… - Posted by Dave-Fl
Posted by Dave-Fl on May 12, 2004 at 14:03:27:
Was one of the bidders a tall lanky looking younger fellow?
That’s why I quit - Posted by GP in WA
Posted by GP in WA on May 11, 2004 at 16:31:14:
I used to buy on the courthouse steps, but there were too many people overpaying. I would guess that these people are not making smart investments, OR they are buying for partnerships and getting fees/commisions or flipping them to Greater Fools.
However, you might follow some of the properties or Google-search for the companies to see what they are up to. Perhaps they have a legit strategy or know something that’s not obvious.
Re: buying at auction question… - Posted by in_ FL
Posted by in_ FL on May 10, 2004 at 22:16:36:
this is also my observation as far as auctions in Orlando…waste of time
Re: buying at auction question… - Posted by Sean
Posted by Sean on May 12, 2004 at 14:17:26:
Well, that is kind of a broad description…but yes. Why do you ask?