396: Post-COVID-19 Investing and Landing Great Deals at Auctions with David Osborn and Aaron Amuchastegui

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 20 August 2020

⏱️ 96 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 GoBundance Auction.com 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 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast, so 396.
0:05.0	You have to fall in love with the problem because it's also going to discourage other people.
0:07.8	It keeps people out of bidding in it.
0:09.7	Anytime it's hard to do it, there's less competition.
0:12.4	Anytime there's less competition, any time there's
0:13.0	less competition, you're gonna get a better deal, anytime there's problems as long
0:16.6	as you have the solution to it, you can make a lot of money and have a ton of
0:19.6	fun. You're listening to Bigger Pockets Radio radio simplifying real estate for investors
0:25.0	large and small. If you're here looking to learn about real estate investing
0:29.3	without all the hype, you're in the right place. Stay tuned and be sure to join the millions of others who have
0:35.9	benefited from bigger pockets.com. Your home for real estate investing
0:40.6	online. What's going on everyone it It's Brandon Turner, hosted the BiggerPockets podcast, here for another
0:45.9	phenomenal show today. We just got finished interviewing these two gentlemen. It was so good,
0:51.7	I just can't even explain it but before I get into that and
0:54.0	try to explain it David Green welcome to the show how you doing man
0:56.7	thank you Brandon thank you for remembering that I'm here I always remember that I just
1:01.8	have to talk and ramble for five minutes before I invite you to talk so
1:05.6	What's up man? That's actually a nice thing that you do because it means that my words are more powerful when I actually speak I just don't want people to like you get it too quickly and like it'll hurt them you know it's kind of like you don't appreciate it.
1:16.8	Well yeah it's like I give them like the base tan but then your heat comes in and you don't burn them right
1:21.7	like if we just like it's like throwing a, you know,
1:24.3	a Midwest person into a Hawaiian sun without sunscreen.
1:27.4	Like I got it, you gotta get in the base tan first, so.
	...

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