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Updated over 3 years ago on . Most recent reply

User Stats

4
Posts
3
Votes
Mike Berina
  • New to Real Estate
  • Los Angeles, CA
3
Votes |
4
Posts

how to find cash for auction sfh in LA suburb?

Mike Berina
  • New to Real Estate
  • Los Angeles, CA
Posted

Hi I could use a little help/advise. I was casually browsing LA county tax liens, which redirected me to a site where I saw that a house in my parent's neighborhood is going up for auction next week. It's a quiet, nice neighborhood with large lots. The property is 4bd 3ba, 3000 sq ft., lot size 17,000+ sq ft. Comparable properties in the area are selling around $1.4m+, and every house in this neighborhood is selling over $1m+, so I figure there's a lot of wiggle room for profit if bought at the right price.

My initial problem is that it requires a $100k deposit to join the auction, and starting bid is at $280k. I have nowhere near that much cash to even join the auction. Are there are any creative ways to get in this?

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