At an auction. Meaning it was a house that was foreclosed on. Oftentimes, they go for very cheap, sight unseen, and you need cash in hand. Granted the laws for that differ per state.
Right, that’s the point I was making. I did know a guy that would buy them and flip them. It’s a numbers game at that point. Some will be sinkers, but most will make money. If you’re buying one to live in, that’s a heck of a risk.
Then your point sure as hell wasn’t clear because I think many people thought you were saying buying a house isn’t a big deal or a risk if you get it at an auction. Hence all the downvotes.
At an auction. Meaning it was a house that was foreclosed on. Oftentimes, they go for very cheap, sight unseen, and you need cash in hand. Granted the laws for that differ per state.
What could possibly go wrong? That’s definitely worth a massive financial risk.
Right, that’s the point I was making. I did know a guy that would buy them and flip them. It’s a numbers game at that point. Some will be sinkers, but most will make money. If you’re buying one to live in, that’s a heck of a risk.
Then your point sure as hell wasn’t clear because I think many people thought you were saying buying a house isn’t a big deal or a risk if you get it at an auction. Hence all the downvotes.
Yeah, apparently not. I thought it was clear that I was pointing out the “at auction” part and its risks.