You've got to check out this absurd premise where Phoenix RE investors bid, without inspection, on auctioned-off properties. I won't insult this forum's intelligence with details, but I get the feeling that some unwitting tv viewers actually believe this BS, and may try to "get rich quick" by emulating these flippers' bogus antics.

Isn't this part of the same buy/sell hysteria that got us into this RE mess in the first place? Well, I've written to Discovery Channel to complain (my civic duty), but we all know that entertainment trumps truth every time.

Where did the buyers get money for the purchases? I thought it is hard to get a loan nowadays?

If these buyers use their own cash, more power to them - may be we local folks should start paying more attention and waiting for these guys to dump their purchases. LOL!

1. Nobody ever looks in a window and then is shocked by the condition inside.
2. Sometimes they don't even look in the back yard due to fences. Hmmm. wouldn't you at least carry a ladder so you could see the back yard?
3. They all stand around the yard on their cell phones and tell their agent at the Court House when to bid. It appears they are the only bidders. If that was the case, why wouldn't the work together and not bid against each other?
4. The winner stands around after the auction to wait for their agent to bring the key. Yeah right. Like you get the keys right after you win the bid?
5. One house there was much drama about a possible lien on the property. Wouldn't that lien be wiped out during the foreclosure?

We want the rewards of just breathing in America and these shows help create that fantasy.