Adam Carroll – Never Buy a Home at an Auction

BIO: Adam Carroll has decades of experience working with families and business owners interested in creating massive efficiencies in their income and wealth-building capacity. STORY: Adam bought a home in an auction without seeing it first and had to sink in more money to restore it than he made from selling it. LEARNING: Never buy a home without doing your research first. Never make an investment decision under pressure.   “There’s a big difference between taking a calculated risk and being risky.”Adam Carroll  Guest profilehttps://www.linkedin.com/in/adamcarrollspeaks/ (Adam Carroll) has decades of experience working with families and business owners interested in creating massive efficiencies in their income and wealth-building capacity. He is an internationally recognized financial literacy expert, author of three Amazon best-sellers, and a two-time TED talk speaker with over 6 million views on https://www.youtube.com/playlist?list=PLMgQl1Ucr_wlBekdoXVu85Qwwt0N6E5Bh (YouTube) and TED.com. Adam is the host of the https://www.buildabiggerlife.com/ (Build A Bigger Life) podcast, the curator of https://www.masteryofmoney.com/ (MasteryOfMoney.com), and the founder of https://www.theshredmethod.com/ (The Shred Method™). Worst investment everIn his late 20s, Adam realized he badly wanted to be in real estate. He had already procured a single-family home and turned it into a rental after he couldn’t sell it. That worked out very well for him. Adam later bought a duplex with his father. Which also turned out to be a fairly sound investment. And so he was on a roll and decided to go for a third property. Adam went to an auction of a home in this small community near where he lived. His plan was to see what the auction would be like, not knowing that he would ultimately get swept into the bidding process. Hearing people make comments about the value and the assessed value and how much money one could make on this property made Adam interested in bidding. And just like that, he became the highest bidde