Author Topic: Anyone had any luck buying from auction.com  (Read 1041 times)

lamachin007

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Anyone had any luck buying from auction.com
« on: March 11, 2020, 03:35:55 PM »
I signed up but I am nervous to even get started,  is flipping properties still a decent way to make money ?

Has any of you used it ? How was your experience in terms of buying a property and making a profit from it  either by selling or renting it ?

Thank you

waltworks

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Re: Anyone had any luck buying from auction.com
« Reply #1 on: March 11, 2020, 06:02:36 PM »
I looked at it something like 5 years ago. Never bid on anything. I think there were a few threads here about it at some point - it sounds like the "winning" bid on most of these sites just gives you the ability to negotiate with the bank/owner - it's not a binding contract.

But that's 3rd hand info.

For what it's worth, I can't imagine there's anything there worth buying at this point.

-W

lamachin007

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Re: Anyone had any luck buying from auction.com
« Reply #2 on: March 12, 2020, 06:53:48 AM »
Thank you

ericrugiero

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Re: Anyone had any luck buying from auction.com
« Reply #3 on: March 24, 2020, 11:49:08 AM »
I've bid on about 3 properties (and may do so again).  In my case, the bank outbid me every time and I didn't get them for what I considered a good enough deal for an investment (flip) property. 

lamachin007

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Re: Anyone had any luck buying from auction.com
« Reply #4 on: March 26, 2020, 12:44:16 PM »
Thank you

jinga nation

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Re: Anyone had any luck buying from auction.com
« Reply #5 on: March 30, 2020, 11:51:29 AM »
same experience as @ericrugiero . Made about 10 bids over the last few years, the lender always gets them.

my conspiracy-addled brain says it's a just a way to show the system is "open", but between 2 friends and me, and over 30 bids, we believe the system is still rigged. you need to know the people on the inside, wine and dine.

meanwhile stupid high prices for shitholes in our local areas that are too good to be true.

SwordGuy

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Re: Anyone had any luck buying from auction.com
« Reply #6 on: March 30, 2020, 12:27:40 PM »
I bought a property off an auction site about 3 or 4 years ago.   Don't remember if it was auction.com or another one.

Worked for me.  It wasn't a foreclosure though, it was just a terribly messed up property.

I did that one as a charity project, but had I wanted to I could have made money on it.