Recognize the difference between a fixer and a distressed property.
To be sued only a handful of times in 10 years of auctions, he says, "speaks volumes about our company. It's William Bone's job to make sure it goes for a lot more than 25 cents. Then again, an auction can just as easily dissolve into a complete nightmare. Hold out for the one property which doesn't get way overbid. We submit many bids and win enough to make it pay us well.
Recognize the difference between a fixer and a distressed property. Sutton currently manages about 2,500 apartments and about I million square feet of office space, Fournier says. Bone takes such setbacks in his typical easy-going manner.