Well I don’t know where to start, there is really a lot to say about all the details of the auction…
First let me tell you that there was a big change to the auction just days before the actual date the number of absolute went from 30 to 15…
If you bought a package they sent this info in an update.
There were about 350 people there as bidders or bidders guests.
What happened at the auction blew me away ( just my humble opinion but
I think bidders paid WAY too much! )
At the end of the 1st round of bidding I turned to a few friends there, we all looked at each other with our mouths open and asked did you just hear what I just heard? 2.75% cap…
propery #7 was the property that the bidder selected, Hemet Ca, he paid
He was there in person on the other side of the room from me, why he paid what he did? Your guess is as good as mine?
David Protiva was sitting just behind me so he might put up a detailed list
so I’ll just metion a few points.
According to my notes 58 were sold total. 27 of them sold for a 10%cap or less. 5 sold in the 10%cap range. 8 sold in the 11% cap range. 9 sold in the 12% cap range. 0 in the 13%. 5 sold in the 14% cap range.
4 sold in the 15% cap range and 1 yes count em 1 sold for a 17% cap and then they stopped the auction.
If you ever get to really know me you’ll find I am a serious investor but also quite a character who has strong opinions but I am going to hold back and just leave you with the thought thats in my head, that famous quote by P.T. Barnum.