Foreclosure Auction Makes Some People Rich!

What is a Foreclosure Auction?

When I first started in this business I would watch with envy the profits people were making. It was setup so there was 1 investor per house and WOW were they making money! I saw one guy triple his 150k investment inside of 9 months.

The banks need money from non performing assets (houses that have been foreclosed on). One way the banks help their liquidity issues is to sell homes at an auction. This is where investors can make huge deals.

This business is not for the weak at heart. It is a fast paced business with a huge support staff behind the scenes. Our staff includes the following:

Driver-Tracker-Buyer-Agent-Contractor

So at first glance you may see people making tons of money but it is certainly getting split many times. Here are a few facts about the foreclosure auction I think you might find helpful:

1. There is no deed at the time of sale. The deed comes about 8 days later.

2. If buying at the auction you must register first and have all funds certified at the time of the winning bid.

3. Make sure you are not purchasing a property with unknown liens attached. I have seen some nasty county liens and if you don't know about them up front it will affect your bottom line.

Have you ever wondered why so many people sit on the sidelines and don't actually get involved? The fact is that its work but it sure does pay well! Heck just look at the results of my last 2 deals.

My last deal paid the investors out at 14.95% return on their investment. It was inside of 90 days. The deal prior was being ran at almost the same time and it paid out at just over 11%.

I was explaining this business to my mother the other day and she finally got it. She just cashed out a CD and had made a whopping 1% return on her 5k investment. Needless to say an 11% return is AMAZING let alone 15%!!!

Imagine doing those numbers with a few hundred grand at a time. Yep folks people are going to get rich in this screwed up economy. I have been watching people do it. Now I am doing it myself. I hope that perhaps even you too can make some fantastic money in this "Screwed Up" economy. Foreclosure Auction