Читать книгу Foreclosure Investing For Dummies - Ralph R. Roberts - Страница 68

One big mistake to avoid at an auction is getting caught up in the excitement of the bidding experience. I know the risks of overbidding firsthand, because I have trouble restraining myself at auctions. I hate to lose, so if someone’s bidding against me, I always win — the bid, that is. Only later do I realize that my obsession with winning made me the big loser for having spent too much for a property.

The trick to effective bidding is to research the property thoroughly and set the highest price you can afford to pay for the property and still make a profit of 20 percent or more. That’s your ceiling. You can bump your head on it, but don’t crash your head through it; if you do, you’ll have serious headaches in the future. For auction bidding tips and tricks, see Chapter 11.