Jul '25 • 💬 Discussion
Don't sleep on auctions!
Just bought a house at a local auction! Local auctions have less exposure and every now and then you can snag a deal. Here are the details:
Winning bid: $181,000
Buyer's Premium: $18,100 (10%)
Total Price: $199,100
Repairs: $60,000 flip, $30,000 rental
Rent Rate: $2,000/mo
All-In: $265,000 (after closing costs)
ARV: $325,000
Gross Profit: $65,000
Net: $48,750
Timeline: 90 days
Don't sleep on auctions!
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Don't sleep on auctions!
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