Skip to main content
  1. News
  2. Business & Finance
  3. Industry

People who make moves - a learning experience at the H&M Auction

A few months ago I went to an H&M Auction here in Atlanta and had the opportunity to see investors making big moves on a rainy Saturday while most people were gearing up for the Florida-Georgia football game.

I was able to experience how investors were able to acquire property in the form of condos, multi-family complexes, and single-family homes that were once valued at over $100,000 - being auctioned off for $35,000 to $80,000.

There was one condo located in Buckhead, an affluent area in Atlanta, that sold for $82,000 - this is an awesome deal considering that this condo would have easily sold for $300,000 in the midst of the 2007 credit era. I imagine that the smart investor that purchased this property will only have to wait about 3–4 years in which he can sell this condo for double of what he purchased it at. But I assume he won’t sell at all – because it will be smarter to rent it out indefinitely and get paid approximately $1,300 – $1,400 a month since it is in such a central and convenient location within Atlanta…and rents in the Buckhead area typically go for this amount.

www.barringtonlewis.com

Although it wasn’t me this time making moves, it was interesting to learn how others make moves. Sometimes we have to watch and learn how to play the game before we rush out on the field with the actual players. Some people spend $82,000 on cars that depreciate in value and don’t put a cent back into our pocket… but when we acquire assets that DO put money into our pocket – now we’re making moves.

 

Comments

Advertisement

News

  • Baseball Hall of Fame
    The Baseball Hall of Fame in Cooperstown welcomes six new inductees
    Video
    Video
  • 2012 do-over
    If we were to re-do the 2012 election, a new poll suggests Romney would win
    Politics
  • Boko Haram
    Boko Haram kidnaps the wife of the vice prime minister of Cameroon
    World News
  • Ceasefire breaks
    Israel's Benjamin Netanyahu claims Hamas broke another brief ceasefire
    Gaza
  • Close call with CME
    Scientists tell how Earth survived a giant solar flare back in 2012
    Space
  • Comic-Con
    What's going on at Comic-Con? Get all the latest updates here
    Comic-Con