With all the influx of foreclosures lately, the lenders have so much inventory that they don’t know what to do with.
Since they are in the business of lending, and not home ownership, they are doing what they can to rid themselves of all these vacant houses they have had to foreclose on.
One way they have come up with is to host these massive auctions and invite members of the public through media advertising. These auctions are not just for investors anymore.
Anyhow, one of these is being hosted here in Dallas at the end of the month.
I figure I’ll go look at some of the houses, and go check out the auction. Although my current investment capital is still under $10,000, I figure it can’t hurt to take some action anyhow.
Whatever the case, it will be good learning experience, I will probably meet a few good contacts at the auction, and who knows if it’s in the cards- I may even walk out of the auction as the owner of a new property that I own outright.