Posted by Marcos on October 28, 2002 at 11:06:14:
I would recommend doing a search on “JT-IN”. You’ll find enough about buying at auctions to keep you busy for days.
Hope this helps,
Marcos
Pros and Cons of Foreclosure Auctions? - Posted by Fred
Posted by Fred on October 28, 2002 at 10:49:22:
Hi. I went to my first auction last week- I went just to see what it was like. There were about 20 contractor types there with me. I was under the impression there were enough good deals for everyone so long as you stuck and out and kept going to these things. I was wondering what the advantages and disadvantages were of buying at auction. I can afford to buy my first house or two with cash from my home equity line of credit. Once I get up to speed on everything I am going to start knock on doors of owners about to be foreclosed on, but the auction seemed like a good use of my time as well.
Any experiences detailing the pros and cons would be appreciated.
Fred.
Re: Pros and Cons of Foreclosure Auctions? - Posted by Ronald * Starr(in No CAA)
Posted by Ronald * Starr(in No CAA) on October 28, 2002 at 18:49:29:
Fred--------------
The pro: it is possible to make good money with foreclosures, if you know what you are doing.
The cons: there are so many that I have written an article on the topic in the “money-making ideas” section of CREONLINE.COM and I would like to emphasize that I have not covered all of the possible problems in that article. Or else it would be at least twice a long as it is. I feel foreclosure auctions are not for the beginning investor.
Good Investing********Ron Starr****************