396: Post-COVID-19 Investing and Landing Great Deals at Auctions with David Osborn and Aaron Amuchastegui
No one knows where the real estate market is headed next... but with an estimated 30 million Americans out of work, wouldn't you like to know how to buy foreclosed properties, step-by-step?
That's what you'll learn today, from two investors who have completed over 1,000 deals each: David Osborn and Aaron Amuchastegui. They begin the show by sharing their thoughts on today's economy (hint: they've kept plenty of cash cash on hand), then walk us through their 5-step process for successfully bidding on foreclosed properties at auction.
From building a list of properties, to lining up funding, to checking title and actually making your bid, you'll learn how David and Aaron (+ thousands of other investors) built serious wealth buying up distressed properties after the last big crash. This skill set is another tool to add to your tool belt, and whether there's another wave of foreclosures coming or not, you can use it to build serious wealth.
For more, pick up a copy of David and Aaron's new book, Bidding to Buy: A Step-by-Step Guide to Investing in Real Estate Foreclosures. And check out the show notes at biggerpockets.com/show396 for a transcript and other resources.
In This Episode We Cover:
- The impact of COVID-19 on various assets
- Why David Osborn is keeping a heavy cash position
- How the foreclosure process works (notice, etc.)
- What a foreclosure auction (sometimes called a "trustee sale") is
- The 5 Steps to buying at auction
- Why it's so important to drive by every property you plan to buy
- Aaron's first auction experience as a newbie
- How to deal with a lien on a property
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Podcast
- Keller Williams
- BiggerPockets Podcast 353: Turning $5K Into $5K/Month and Retiring at 40 with Tim Rhode
- Roddy's Foreclosure Listing
- Auction Texas
- BiggerPockets Analysis Calculators
- BiggerPockets Podcast 385: Once Homeless, Now Investing in an Expensive Market (With No Money of His Own) With Greg Gaudet
- Real Estate Rockstar Podcast
- BiggerPockets Money Podcast
- Real Estate Rookie Podcast
- BiggerPockets Business
- BiggerPockets Bookstore
Check the full show notes here: https://www.biggerpockets.com/show396