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Old December 16th, 2012 #21
notmenomore
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Originally Posted by Robert Ransdell View Post
Has anyone on here ever attended or bought a property at a property tax auction?



Anyone on here with experiance in this - are car auctions less trouble and more profitable?

I've attended several auctions of delinquent tax real estate, but only came close to bidding a few times. I typically research local delinquent tax properties at the time they are first advertised. If any are interesting (to me) I give them additional research. It's easier these days with web accessible tax maps and tax information and also Google Earth.

In most cases there is a fairly discernible reason why the tax payments have become delinquent. One of the more promising ones is where the property owners have died without wills and the property has become deeply enmeshed in "estate" troubles. Often-times, however, the properties are either land-locked or located in VERY undesirable areas.

In any case the opportunity to "steal" real estate at delinquent tax auctions is probably over-rated. There are always plenty of knowledgeable investors and real estate professionals who will have developed and accurate information on the likely market for a given property. You'll be bidding against these folks at the auctions, and they won't hesitate one bit to let you run up the price and buy something for three times what you'll EVER GET OUT OF IT.

My guess is that the only ones who ever got rich dealing with these properties were the jews who were selling the "how-to-do-it" books.

I would think it's much easier to buy yourself a world of trouble and hurt fooling with real estate than it is with cars.
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Last edited by notmenomore; December 16th, 2012 at 09:39 PM.
 
Old December 17th, 2012 #22
wwelvis
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hey about 3 years ago someone told me about this web site its differnt each week....wwwgovdealscom they have cars and trucks from dui stops.and other surples things you just put in your zip code and it will show what is 4 sale nexted to you.if you bid and get it you must pick it up i have had 2 deal with butch dikes cops that are smart ass;s so it might help you ---/used cars around hear have doubled in price,,,just crazy,,,,
 
Old July 25th, 2013 #23
Donnie in Ohio
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Just a heads-up:

Saw where there is a new "reality show" starting in August about people doing just what is detailed in this thread in Texas. Buying cars at auction and selling them along. Missed the title of the program.

There is a lot of cash to be made this way guys. Just do your homework. Due diligence is key.

Put in some effort. The rewards will justify.
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Old July 25th, 2013 #24
ThomasVolker
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Are you doing this business within america?
 
Old July 28th, 2013 #25
Donnie in Ohio
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Looks like the show is called "Dallas Car Sharks".

Quote:
Dallas Car Sharks

Auction surprises aren’t exclusive to storage containers – sometimes the drama unfolds on four wheels. Velocity’s all-new series Dallas Car Sharks takes viewers to the Lone Star State where car enthusiasts from across America gather to participate in the ultracompetitive world of car flipping. Here tough-talking, larger-than-life dealers compete to outbid and out-buy each other in the intense world of automobile auctions. They love the thrill of the bid nearly as much as the incredible cars they’re working hard to win, but are sometimes in for a rude awakening when the car they’ve won turns out to be a lemon. Velocity rolls out Dallas Car Sharks beginning Tuesday, July 23 at 8:30 PM ET/PT.

In each episode of Dallas Car Sharks, tempers flare and rivalries ignite over any number of cars ranging from a 1980 Corvette to a 1998 Official Indy 500 Pace Car.

After winning the bidding wars the real work begins for the car sharks. Now they have to get down and dirty to inspect their purchases, and what they find under the hood reveals the true value of their skills on the bidding block. Each contender has his or her own distinguished reputation and unique bidding style in the auto flipping world. Dallas Car Sharks features its fair share of personalities including:

•Tommy “The King” Spagnola, a true Texas family man who turns tough when it comes to turning over cars. “The King” has been in the business for 30 years with a family-run auto lot featuring a massive, museum quality show room.

•Ash “The Wise Guy” Rabah is a cocky, independent dealer whose lower-end lot, cluttered office and brash personality is in stark contrast to “The King”.

•Martha Davis, known as “Mother Hen”, battles with being a woman in the used car world but is determined to succeed in order to provide for her family. “Mother Hen” loves to compete with and get the best of the “big boys”.

•JD Cole, Martha’s son, lives more on the edge than his mother does, taking big risks on flashy cars, much to his mother’s chagrin.

“Dallas Car Sharks combines all the drama and big characters of an auction show in a style that is uniquely Velocity,” said Robert Scanlon, senior vice president of Velocity. “This series goes inside the art of the deal to show the level of competition and adrenaline that drives this market. It’s addictive television.”
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Old July 28th, 2013 #26
Bardamu
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Quote:
Originally Posted by Donnie in Ohio View Post
At the risk of sounding like an investment banker, I have found it to be a great way to have at least a portion of my money making money for me, at a hell of a lot higher return than I could get most anywhere else legally.
But it is not really your money making money for you, it is your work. All that which you describe is skilled work plain and simple with a capital investment of your own.

Another good business out there that I notice is consignment shop. You have to be good with numbers and set the initial business up correctly, plus you need a good location that isn't too expensive to lease, but then you are good to go, at least around these parts. Consignment shops are crowded with stuff, with more used stuff sitting in backrooms and storage lockers. The few such shops around here boom, and it is hard to get them to take your good stuff because of their backlog.
 
Old July 28th, 2013 #27
Robert Ransdell
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Quote:
Originally Posted by Donnie in Ohio View Post
Just a heads-up:

Saw where there is a new "reality show" starting in August about people doing just what is detailed in this thread in Texas. Buying cars at auction and selling them along. Missed the title of the program.

There is a lot of cash to be made this way guys. Just do your homework. Due diligence is key.

Put in some effort. The rewards will justify.
If past history is any indication, there WAS a lot of cash to be made doing this.

From what I understand, those storage auctions shows have ruined what was once a decent living for people who for many years were the few who knew about the practice. Those shows made everyone think they could show up and get rich, drove up the prices by a substantial factor from accounts I have heard.

Hope it doesn't happen in this case and you are still able to make money doing this, but if the show really hits big then you might see more competition and the prices go up to the point where there is less or no profit to be made.
 
Old December 11th, 2013 #28
Donnie in Ohio
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Three cars that will be going straight up in value over the next 60 months. You heard it heer first:

1. 1983-84 Oldsmobile Hurst/Olds

2. 1979-1981 Chevrolet Camaro Z28

3. 1968-1972 Pontiac GTO


These cars are presently undervalued in the collector car market, and are just starting their upswing. If you're looking to literally park some investment cash in something you can (on very nice days) drive, look for the cars above to appreciate by 30% over the next five years. That's better than you're going to legally get most anywhere else.

Do your homework. Make sure you're buying a real Z28 or GTO and not a Lemans someone has badged as a Judge.

Look for original, #s matching, non-fucked with versions of these cars as much as possible. If they've been modified, return them to stock. Year One will have everything you need to do so.

Options are king. T-Tops/convertible models are worth more. Manual transmissions (The Hurst/Olds were offered auto only, and they didn't make very many of those year Z28s with a 4-speed, but still, look for them) will always be worth more than an automatic.

Craigslist & the AutoTrader Classic website are a great place to start. Any specific questions I'm happy to help.

Just passing it along. Solid, documented examples of these 3 cars will appreciate in value. As pretty much always, you'll see I'm right in the future.
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Old January 2nd, 2014 #29
Crowe
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Every old chevy silvarado truck I've bought and sold, I've actually sold for more than I paid for it. 77-85 models in particular. I got $2500 for a 78 model 1/2 ton that was beat all to hell, but in good running condition, when I only paid $1500 for it. Someone offered me $5500 for the 77 model I got in my backyard, and I only paid $2500 for it. Body is in decent shape and it runs good as well. The 350 that is in it was actually bored 30 over by the guy I bought it from, so its got more oomph to it than a basic 350. I really don't want to sell it though. If I get hard up for money, I probably will sell it because he made an open offer on it.

Last edited by Crowe; January 2nd, 2014 at 06:08 AM.
 
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