Make money in Real Estate Lens- We show you how to Make Money in Real Estate the easy way.

First thing that I did at the very beginning was find out when the next sheriff sale was. After I that, I then contacted a few partners and told them about my plan about how I wanted to buy some properties and if they wanted to go in with me. Next I download the list of homes that were up for auction from the sheriff sale website. If you are in Philadelphia, you can go to Phillysherrif.com for the listings

Since the next sheriff sale was in a few weeks, we knew we had to go physically check on the properties to see what shape they was in and if they were worth bidding on. Remember, there are a lot of things you need to check before you bid on a property. It's not as easy as you think. Your first impression of a property is worthless unless you check some or all of the following.

Okay today , you decide to go look at a few homes that will be sold in the next auction. Here are some of the key things you want to check first.
1. When you first come to the block, look at the block. Check to see. are their any abandoned buildings near or around the property that you are interested in. ( Do not buy any propery that has a boarded up building next to it- WHy, it's because you may have a hard time finding insurance companies that will insure your property)
2. What is the overal block shape. Are the properties on the block in good shape. Is the block clean. Does it look like a block you can see yourself living in.
3. What is the condition of the properties from the front. (what is damaged. Doors, porch, roof, walls, steps, gates, yard,) Find all external damages and write them down.
4. Is the property boarded or sealed. ( if its boarded it is a good sign, if it's seald it maybe be due to the fact that the roof has caved in and the city does not want anyone remotley opening the door in fear of some trouble happening.
5. Can you get to the back of the property. ( Try to walk in the back if you can. Look at the yard. Check out the back walls,. Are they structured? is there any walls falling in or down. Are they any holes in the property. From what you can see. Is the roof still intact. Theese are key things that you want to look for when checking a property from the external side.
Here is a good tip that can save you thousands. Try to find a neighbor on the block and ask them info on the property. What they tell you can help you decide if you want to buy the propery or not. Once we identified the properties we wanted then the next step is to go to the sheriff sale.

Well now that you've researched the properties you want. Here is what you need to do. First, for each property that you like do a market value search on each of the neighborhoods so you can know what the going prices are for where each property is located.

Next find write down a specif amount that you are willing to bid for each property. When bidding do not go over what you plan on bidding even though you may get tempted once actual bidding starts. Stay firm on the price you set.

Quick tip, when bidding do not bid to fast, let other bidders go first and against each other so you can see how the action is on the property you want.

Now all that is left to do is to start bidding and win one or two or three of the properties that you have researched. When you done that you will be all set. So go ahead and go bid and don't go over your budget.

So congrats you got your first property. Now what. You need to find a contractor don't you. Well more on that soon