By Tom Dyson in DailyWealth:

Right now, as a result of the housing collapse and recession, banks are selling thousands of properties through auction all around the country. I noticed three new auction announcements for property in my town last week. And a local hotel held an estate auction yesterday.

These auctions are loaded with bargain properties. One of the properties up for auction where I live is only nine years old, in great condition, and in a very desirable location. I asked the owner of a property-management company about it... He told me it would generate $30,000 a year in rental income. The current bid for this property is $152,500. That's a 20% rental yield at current prices.

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