Archive for the ‘Property Investments’ Category
May 31st, 2010 | 
Author: Property auctions at first glance appear to be a great way to build your property portfolio quickly and cheaply. While that is true it can also be a way to drain your investment pool and end up with some sorry looking pieces of real estate that you can’t get rid of due to the cost involved in renovation or some untold problem in the neighboring area that has driven the properties price down in the first place.
Researching these auction bargains takes time and if you only research the few that strike your fancy and they sell for more than you want to offer then you will be stuck with watching auction pass you by that you have now knowledge of the condition of.
If you are seriously going to look for investment properties in the auction property marketplace you first and foremost need to become educated about the pieces you will be seeing. Otherwise you are bidding blind and throwing investment dollars at the proverbial blank wall. You have some options like a buying group where members assess the true value of a group of properties and then bid together but even that is risky.
You need a research partner that can do the legwork and present you with a list of those auction properties that fit your criteria. Not just fit your price, but fit your ability to refurbish promote and manage especially if you are buying properties for tenancy. Seek the help of an investment property firm with direct experience in purchasing property at auction.
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