Today I will be attending a real estate auction conducted by Phoenix Attorney’s Tiffany & Bosco, P.A. I scouted out a couple homes yesterday and think that I have a pretty good game plan for today. I will be meeting an investor there at 9:30 and hopefully picking up a good flip project.
I will say that I did feel a little like a creep yesterday when I was prowling around neighborhoods and peering into windows of foreclosed properties. I mean you have to be a prowler on these auction homes, especially when you’re buying something without an inspection contingency.
Doing this is also really sad at the same time! A few of the properties on my list still had cars in the driveway, which obviously indicated that the homeowners were still living there. I advise my investors against these homes because who knows what kind of emotions are still involved and do you really want to take measures to have to evict these people?
Don’t get me wrong, flipping foreclosures is not all doom and gloom. Our flip projects really help the area and neighborhood. Most of the homes we buy are in such bad shape that I would say they are ‘unlivable’. It also provides our contractor and his employees with work and has a trickle down economic affect for the other services and products we buy.
Wish me good luck today and if you have any questions about auctions, foreclosures or short-sales, just let me know.
