Don't sleep on auctions! · Privy Listing Network

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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