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The Foreclosure Auction Is Not for the Timid
Let me be clear right from the beginning.
If you have cash and the discipline to stick to your numbers, foreclosure auctions remain the single best source of deeply discounted real estate I've ever found. That has been true in strong markets, weak markets, high-interest-rate environments, low-interest-rate environments, and just about every economy I've invested through.
Why?
Because foreclosure auctions don't begin with a market price. The opening bid is generally based on the remaining principal balance of the loan, plus unpaid interest, late payments, attorney fees, and other costs. In other words, the bidding starts with what the lender is owed—not necessarily what the property is worth.
That's where opportunity begins. It also happens to be where the adventure begins. People sometimes imagine foreclosure investing as buying neglected houses that need paint and carpet. Sometimes that's exactly what you get. Other times you discover that the house is the easiest part of the transaction.
In Flipping Houses in Ten Days, I tell the story of a 3,000-square-foot home in Warm Springs that looked ordinary from the street. Inside, it was anything but. The owner wasn't simply a collector. She had spent years accumulating trash until much of the house was buried beneath four to seven feet of garbage and filth. Renovating the house was one project. Simply finding the house underneath everything else was another.
Then there was the property I couldn't actually possess for six months because the former owners had learned every legal maneuver available to delay the process. At the time I thought I'd simply had bad luck. Later I discovered those tactics were actually being taught in seminars around the Atlanta area. A friend of mine bought a beautiful million-dollar home in the next county and spent more than two years fighting through similar legal delays while the former owners continued living there rent free.
Not every surprise comes from the courtroom.
A friend outbid me on a beautiful older home in Henry County, Georgia. The following month I saw him limping into another auction with his arm in a sling. The former owner had removed every light fixture from the kitchen, basement, and basement stairs, then poured motor oil down the stairway before leaving. My friend never saw it coming. He slid all the way to the bottom, leaving with a broken arm and a painful reminder to carry a flashlight into every vacant property.
I wasn't immune either.
I once bought a beautiful house in a newer neighborhood in Conyers, Georgia. When I finally got inside, I discovered the owners had wheeled in a wet saw before moving out, cut the granite countertops into pieces, and hauled every last piece away with them. I had expected to replace carpet and paint walls. Granite countertops hadn't even made my list.
Do this business long enough and you'll collect stories that sound too strange to be true. I certainly have.
So why would anyone keep buying foreclosure properties?
Because none of those stories changes the math.
The foreclosure auction consistently produced some of the best deals of my career precisely because many investors weren't willing to accept the uncertainty that came with them. They wanted predictable. Foreclosures rarely are.
Every worthwhile business has barriers to entry. In foreclosure investing, one of those barriers is simply being willing to deal with the unexpected.
Would I do it all again?
I've thought about that more than once.
My answer is still yes.
Not because it was easy.
Because it was worth it.
And I can’t leave today without mentioning the best thing I ever found at the courthouse auction - Dianna. I met the love of my life right there at the steps. She worked for a law firm conducting sales, and I was buying what she was selling.
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Resources
Vetted tools, services, and resources for real estate professionals. We only list what we'd use ourselves. More tools, more resources — browse the full library here.
💼 Tax & Financial
💼 KBKG Cost Segregation — Accelerate your depreciation deductions with a cost segregation study from one of the most respected firms in the business. Best for investors who have acquired or improved commercial or residential rental property and want to front-load their tax savings. Get a Free Feasibility Analysis
💼 MVO CPAs — Cost segregation studies that accelerate your depreciation and cut your tax bill. 100% IRS acceptance rate. Get a Quote
🔄 Deferred — The only 1031 exchange intermediary that charges no fee to the investor. Keep more of your money working in the exchange. Schedule A Call
🧾 Keeper Tax — Automatically finds and tracks your business deductions year-round, then files your taxes when you're ready. Best for self-employed investors, agents, and 1099 earners who are probably leaving deductions on the table every year. Start Saving
⚖️ Legal & Insurance
⚖️ LegalZoom — Form your LLC, protect your assets, and get your entity structure right from the start. Start Here
⚖️ Northwest Registered Agents — The most trusted registered agent and business formation service in the industry. Best for investors who want privacy protection and a complete business identity. Get Started
⚖️ Registered Agents Inc — Set the standard for your registered agent service. Business formation included free for the first year. Get Started
🛡️ NREIG — The nation's largest real estate investment insurance program — month-to-month coverage across all 50 states, no long-term commitments and no coinsurance penalties. Request a Proposal
🛡️ Hiscox Small Business Insurance — Professional liability, general liability, and business insurance tailored for independent operators. Coverage starts at $22.50/month. Get a Free Quote
🏠 Choice Home Warranty — Protect your rentals and listings from surprise repair costs. Get Your No Obligation Quote
🏠 First Premier Home Warranty — Affordable home warranty coverage for your rentals and listings. Get a Free Quote
⚖️ DepositLink — Secure digital security deposit management for landlords and property managers. Click to learn more
⚖️ LawDepot — Legal document templates for real estate investors. Leases, contracts, agreements — ready in minutes. Get Started
📧 Marketing Tools
📧 ActiveCampaign — Email marketing and automation built for businesses that actually sell things. Sequences, pipelines, tagging, and CRM in one system. Start Free Trial
📧 Kit (ConvertKit) — Email marketing built for creators and entrepreneurs. Clean, powerful, and built to grow. Get Started Free
📧 AWeber — The email marketing platform that's been in the game since 1998. Reliable deliverability, simple automation. Get Started Free
📧 Brevo — Email marketing, SMS, and automation without the premium price tag. Get Started Free
📧 Constant Contact — Email marketing and automation built for small businesses. Trusted since 1995. Get Started Free
📈 Marketing 360 — Websites, CRM, email, social, and ads in one platform with a dedicated marketing team behind it. Start Your Free 14-Day Trial
🔍 Motivated Sellers — Done-for-you motivated seller leads delivered to your inbox. Get Your First Leads
👤 REVA Global — Trained real estate virtual assistants who hit the ground running. Roger has had the founder on the podcast. Schedule a free strategy session
💬 LiveChat — Add a live chat widget to your website and never miss a lead who wasn't quite ready to fill out a form. Start Free Trial
🎬 Video & Content Tools
🎬 InVideo AI — Turn a script or prompt into a polished video in minutes. Get Started
🎬 VEED — Browser-based video editing with auto-subtitles, transcription, and AI tools built in. Start Editing Free
🎬 Descript — Edit video and audio by editing text. Studio-quality content without the learning curve. Start Free
🏠 Also Today — Agent Resources Top Picks
Full Agent Resources appears Wednesday.
🎓 The CE Shop — CE credits, licensing, and professional development for agents and investors. Use code ROGER35 for 35% off. Enroll Here
🎓 AgentFire — Own your website. IDX built in, hyperlocal SEO, lead capture. From $129/month. See AgentFire
🎨 Coffee & Contracts — Done-for-you social media content for agents. Use code ROGER for $20 off. Get Started
📞 Vulcan7 — Real-time expired, FSBO, and FRBO leads with a built-in dialer. Best for agents who prospect by phone daily. Start with Vulcan7
🎓 Education and Training
🎓 Oceanview Commercial Lending — Start your side-hustle as a Commercial Loan Broker. Schedule an Exploratory Call
🎓 Teachable — Build and sell your own online course. If you have knowledge, Teachable helps you monetize it. Start a Free Trial
🎓 Kaplan Real Estate Education — Pre-licensing, CE, and continuing education for real estate professionals nationwide. Get Started
📚 House Flipping in Ten Days — The Amazon #1 International Best Seller. Learn everything you need to know in just ten days. Start flipping houses like it's really done — not like what happens on TV. Order here
💡 Negotiation — A fast, practical mini-course for agents, investors, and anyone who talks to people. No scripts. No pressure tactics. Just the four negotiation skills that actually make a difference. Now just $19. Enroll Now
🏠 FlipStarter — The everything-included course on flipping houses. Bonus interviews, forms, documents, and the exact process Roger used to flip more than 2,000 houses. Huge Discount for Quick Start Readers
🛠️ Quick MAO — Get your cash offer in seconds with just a few inputs. Data can be fed from the free Quick Rehab Estimator. Forever Free




