West Valley Properties

Your Real Estate Guide Through West Valley

Skip to: Content | Sidebar | Footer

Day in the Life of a Trustee Sale Auction Investor

15 July, 2011

(Here’s a Sneak Peak to )… Up at 5:30 AM, or “O Dark 30” as we use to say in the Navy, workout 5:45 – 6:30 AM, shower and then breakfast with the family. Fire up the computer and map out my route to drive the properties I’ve selected for today’s trustee sales, beginning at 10:30 AM, and out the door by 7:30 AM.

House by house I go, taking pictures, estimating repairs based on how it looks on the outside and trying to see the inside if I can and then it’s back home and back to the computer to crunch my final numbers and get by bid list to my buyer by 10:00 AM.

The auction starts at 10:30 AM and I get call from my buyer (a professional buyer I hire to bid on my behalf at the auctions, as taught by my auction guru ) letting me know that my house is getting ready to go to sale. My hearts racing with excitement and I’m pacing back and forth while listening to my buyer bid for me… “$100 more, $500, $1,000 more.”

Darn, I just got out bid but that’s okay because he calls me again when the next one goes… “$100 more, $500 more, $1,000 more” and then I hear the auctioneer say, “going once, going twice, no further bids, sold for $$$$.”

My buyer calmly says, “You got it,” while I’m doing my victory dance. Good thing no one is looking.

Sound like fun? It’s actually a blast and I enjoy every minute of it and even better. I’m making very nice profits at the same time. For example, my most recent deal which was my 3rd buy, a 2 bed, 2 bath, 1,166 square feet single family home valued at $330K that went to auction on 3/25/11. Opening bid was $241,500, winning bid (me) was $241,500.01… Did I mention that I have a great buyer?

A few days later I met with the previous owners, a very nice couple in their mid 40’s, and worked out a “cash for keys” deal for $2K if they moved out within 30 days which they gladly accepted. At that time they told me about a couple who were trying to buy the house on a short sale before it went to auction, so I asked them to pass along my number to them. A few days later the couple calls me and said they really want the house so I qualified them and worked out an “as is” and they pay all cost sale price of $285K. We opened escrow on 4/12/11, closed on 5/13/11, my birthday, $38K profit in the bank on 5/16/11. How’s that for a deal start to finish in less than 60 days?

So how did I get started in Trustee Sale Investing? As most of you know I’ve been buying pre-foreclosures and REO’s since attending in 2005. Recently my fellow investor, coach, and very good friend Sarah Garlick told me about her auction buying system and how well she was doing. Wanting to move to the next level in my own investing, I spent several days with Sarah, learning how to be a professional auction buyer. Sarah taught me everything from selecting the right properties to finding the right buyer and everything in between.

Now armed with my , I finished putting my team, money partners, buyer, etc., together and started bidding. Got my first deal at the auction in my first month, my second deal my second month and my third deal my third month, all averaging a $40k profit. Now that’s what a call a good start.

By the way, these auction buys were done while I was working my pre-foreclosure and REO business…. Which I have successfully bought and sold over 66 deals in the last few years. Some would say I was already a professional and didn’t need to learn more. But I absolutely do not agree with that opinion. I have never begrudged the money I have invested in my foreclosure investing business… as it has paid me paid thousands of times over in profits I know I would not have made without it.

is hands down “The Master” when comes to learning how to buy at the auctions the right way and I would not have achieved the success I have without her. Anyone considering becoming a “Trustee Sale Auction Investor” whether you have dabbled in the past, or always wanted to buy at the auctions but didn’t know where to start – I recommend you do what I did – and learn from the best, first… Starting with and then her later this month.

You’ll be glad you did.

Happy Investing, Daryl White

Here’s your LAST CHANCE to started in your new lucrative career investing at the auctions.

Join us one last time this   to learn how to “buy it right” and realize instant profits. Contrary to popular belief, you do not need your own money or credit to successfully buy at the auctions. Tenacity and execution are your only prerequisites. Foreclosure auction investor expert, instructor, and coach , will share her easily duplicated and streamlined approach to finding, qualifying, funding and reselling auction properties in this 90-minute live webinar. Don’t miss out, !

Share

Write a comment