Yep… well all I can say is welcome to the show. Most of the time if the opening bid is posted the previous day, those properties get killed. Given todays numbers it actually is better if the opening bid is not posted until after 10 am, which helps catch people off gaurd. The real experts have an operation of a guy at the trustee sale, one or two guys on the road looking at the properties, then someone at a computer communicating real time with the person at auction.
The case you mentioned where a 220k property sold for 170k is still over 20%. Not bad. If you get 20% today on a flip count your lucky stars.
