I ran my first Home Auction last weekend and it was a smashing success! Of course I was a little nervous that it wouldn't sell for as high a price as I really needed in order to make a fair profit...but it all worked out just fine. The contract has been signed by all parties and the earnest money has been deposited in escrow. All that's left now is to wait for closing at the end of the month.
After we close (don't want to jinx anything!) I'll post a video on how this deal went down. It'll be one of those deals where I have to preface by saying "do not try this at home..." because I broke a couple of my own "rules" to adapt to all the adversity I encountered. Every investor needs to decide for themself just how much risk they are comfortable taking. Me, I like to swing for the fences. Sometimes, that means I strike out...but this one looks like a winner.
All that's left now is to sell the piano that came with the house. Maybe I should run another auction?! $450 or best offer. Who's interested...?
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