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Potential investors looking to get into the Florida real estate market are often held back by the fear that they don’t have the capability, time or resources to make the right investment decisions. There are a million reasons to say, “I can’t do it because…”
Our guest this week is Barney Killinger of Pro Auctions Services. Barney is a foreclosure auction expert, purchasing properties at foreclosure auctions for investors. His company, servicing mainly Central Florida, provides investors with a consolidated portfolio of foreclosure auction markets available for bid in several counties.
Barney is a great guest not only for his enormous well-spring of knowledge and experience 
in the Central Florida auction market but for his inspirational story. In 2010, Barney was involved in a head-on collision and suffered a severely fractured neck. While bed-ridden and amidst surgeries Barney continued to pursue his dream of achieving success in foreclosure auction markets and managed to organize and execute successful bids on 40 properties in a 45 day period from his hospital bed. Barney is living proof that you absolutely can succeed as an investor with perseverance and dedication.
- Florida foreclosure market still going strong
- Courts still holding and processing foreclosure cases
- Large amounts of “reserve stock” properties
- Most likely to reach its peak mid-2018
- High Risk/High Reward
- Title issues
- Structural damage
- Risks can be minimized with right knowledge and resources
- Returns on foreclosure auction investments
- 65-75% average for investors
- 12-15% average per month on remodel/rehab properties
- 3-6% average per month on wholesale flips
- FL Open Bid system
- Investors have access to bank/lender’s selling prices prior to sale
- FL 10-day Title Redemption Law
- 10 days allotted post-sale for owner/borrower to pay liens or for bank/lender to vacate foreclosure sale
- If sale vacated by bank, make direct offer to bank on vacated property
- Pro Auctions Services
- Servicing mainly Central Florida auction market: Polk, Orange, Osceola, Seminole and Volusia County
- Proxy Drivers – view and photograph property for buyer at auction
- Proxy Bidders – buyers who represent investor at auction
- Tips for Success
- Always SEE the property before placing bid
- Run title search
- Who you work with and how you educate yourself is very important in real estate investments
For more information on Barney’s company and the services they offer, visit his site here
Contact the Pro Auctions team by email at auctions@proauctionsservices.com
or by calling the office at 863-687-4101