The Most Confusing Auction Bid I’ve Ever Seen

Link to Roxbury case study:    • I Bought a 20 Unit Apartment Complex for O...   Today’s auction was absolute chaos — the Windsor East 15-unit block was slammed with a R4M bid in the first seconds. No counterbids. No hesitation. Just boom… SOLD. 🤯 Join this channel to get access to perks:    / @laurensboel   And here’s the important lesson: Just because someone pays a price… doesn’t mean it’s the right price. 🧠 Key Insights From the Call • We analysed the building in detail — good condition, strong yields, but a high-risk area with R240k in arrears and a weak managing agent. • Based on conservative rentals, reduced recoveries, realistic reno costs and all fees, our max was R2.5M (±R4M all-in). • At that price, the deal still delivered solid numbers: 19.7% IRR, positive cashflow, strong NPV. • But at R4M hammer price, the buyer ends up closer to R5.5M all-in. That completely breaks the deal… unless they have inside info or made a beginner mistake. 🏗️ Property Lesson: Due Diligence ALWAYS Wins Auctions look exciting — but they can be dangerous if you don’t know what you’re doing. Here are some golden rules: ✔️ Never bid first — let the room expose the true demand and soften the price. ✔️ Don’t chase — chasing is how you overpay by a million. ✔️ DD before emotion — arrears, evictions, managing agents and rates bills matter more than the auctioneer’s hype. ✔️ Auctions are not for beginners — once that hammer drops, there are no refunds and no cooling-off period. ✔️ Get a coach — the right mentor will save you more money than they ever cost you. ✔️ If you don’t understand the numbers, don’t bid. Period. 📣 Want Help With Deals, DD or Coaching? If you want: • to learn how to analyse deals properly, • join a community of SA investors, • or partner with me on future blocks… 👉 Join my membership - weekly case studies + live deal analysis (   / @laurensboel  ) 👉 Chat to me on Linktree for partnerships & coaching (https://linktr.ee/laurensboel) 👉 Subscribe for more real investor breakdowns Not financial advice — just real stories from the trenches. 0:00 Introduction 0:26 Windsor Deal Overview 3:13 Financial Analysis 4:11 The Auction 8:19 Lessons Learned