In a recent presentation by Jason Greenwald, the topic of discussion was investing in RE foreclosure auctions. Jason shared his experience and success in this field, starting in August 2008 with no formal training. He quickly became knowledgeable, attending multiple auctions per week and viewing around 120-140 houses. His first purchase in November 2008 for 5,000 quickly turned into a profitable wholesale deal, selling the property for 39,000 without any renovations.
From 2008 to 2013, Jason’s focus was on buying low-cost properties through different LLCs and a silent partner. He referred to this approach as “buying RE cigar butts” – assets sold through forced-selling mechanisms. He purchased properties at a low cost and quickly resold them for a profit. However, these properties often had difficulty attracting consistent, long-term tenants, resulting in sporadic cash flows and additional expenses.
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