– Gordon Gekko in Wall Street, 1987
I was 15 years old when the film Wall Street was released. I had no interest in business back then. I was too busy popping pimples and chasing girls – on my bike. By the time I got around to caring about business, about 15 years later, the movie was off my radar. That is, until Wall Street: Money Never Sleeps came out in 2010. I finally watched Wall Street and I wasn’t disappointed.
Last December, I was introduced to AZ Bidder by Tom Ruff of the Information Market. This powerful web-based program allows me to bid on homes sold at trustee’s sales (auction) here in Maricopa County, Arizona, online. With this service I can search for homes in foreclosure by city, zip code or file number. It allows me to build in my own assumptions for holding costs and repairs. I can order and view title and drive reports. The market analysis information comes directly from the Arizona Regional Multiple Listing Service. Once I finish my due diligence I can place my bid and watch the auction unfold live on my computer screen.
That’s a lot of stuff and I’m sure I left a few things out. Whenever I log into the system I think of Gordon Gekko. With all of this information at my fingertips I can make better buying decisions. It makes we want to go around quoting him. This line is one of my favorites – “I don’t throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought.”
I posted 4 videos here today. On Monday I will post the other three. Here’s the order:
- Property search
- Identification and research
- Market analysis
- Marking for bid (title and drive report)
- Placing the bid
- Watching the bidcast
- Final Results
*For the best resolution I recommend you view these videos in full screen mode with the 720p HD option selected at the bottom right corner of the video box.
Video 1 – Property Search
Video 2 – Identification and Research
Video 3 – Market Analysis
Video 4 – Marking for Bid