This transcript excerpt recounts the CEO (Aaron Davis) attending a sheriff's auction where an opening bid of $36,000 was placed; the speaker made a practice opening bid (about $36,100), unexpectedly won the property, and—having forgotten a checkbook—returned within the bailiff's hold period (about one to two hours) to deliver payment. The purchase was unplanned (speaker intended to practice bidding), the property was a condo that attracted no other bidders, and the investment later proved successful. The clip ends with a standard investment/legal disclaimer.
Questions this video answers
$36,000
Approximately $36,100 (the opening bid the speaker made).
About 40 minutes away.
Approximately one to two hours.
I go to the sheriff's auction and.
I think it was, I think it was a $36,000 opening bid.
Okay.
And I had been to a couple of sheriff's auctions already and so I had seen what happens. These things get bid up and blah, blah, blah.
Right.
And I thought, well, maybe I'll just, I'd never bid on anything at an auction before. So I thought maybe I'll just, I'll do the first bid.
Yeah.
That way I can kind of get the jitters out. I could just like, you know, walk.
That off essentially and just work out the, the nerves or whatever of building up my courage to bid. And the first bid won the property.
Oh, so I did the opening bid. Yeah, it was good and bad, bad because I didn't even have my checkbook on me. Like I was not pre buy this property at all. It was a real hack job.
Yeah.
So I literally, I bid $36,100 or.
Whatever the minimum, you know, bid is, and sold to Aaron Davis.
Dang.
And so I literally had to go.
To the bailiff or whoever it was that she was, she was running that auction and tell her like, hey, I, I live 40 minutes away.
Forgot my checkbook, I'll be back.
And she's like, okay, I'll hold this for an hour. I think she gave me, you know, two hours or something.
Oh, damn.
And I made it back, wrote her a check, had to go to the sheriff's auction to write her a check and deliver it. That helped from thing.
But I had, I had no intent of buying that property at all. I was really just trying to bid for the sake of like, you know, practice or something.
Right.
To try to kind of like sentimentally get that fear out.
And I ended up buying this property.
And to this day I don't know.
Why nobody else bid on that property. People didn't like to mess with condos or whatever.
The right audience wasn't there, but it's.
I did, I did great on the property.
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