Place bid or secure funding first?

[Shawn Hobbs]

Hello,
Pretty green to real estate investing. I've done 1 flip, 1 under contract and purchased a slew of tax liens and am looking to purchasing properties at county auctions?

My questions pertains to a deal from a tax lien list held by a company for property in NYC. It is a 3/2 condo in Queens. Currently, the market has similar units selling for 290K. Starting bid for this is 70K. Those in the RE game think that I'm pulling their leg and have called me a liar and think I'm trying to scam them with this opportunity (it's sad to know that you have access to information like this and no one believes you). This company will take bids up to 8/18.
1. Do I place the bid now and hope to get funding? I'm afraid of either missing this opportunity or not being able to bid again with this company.
2. How do I convince a hard money lender to borrow for an auction and on a loan (if I were to win the bid at this price)that would be 25% loan to current market value and maybe 51% loan to ARV? (Personal credit stinks right now.)

I see so many of these houses and commercial properties on county lists across the country and believe it's the last great resource for great deals.

Thanks for your input and advice.