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Updated about 5 years ago on . Most recent reply

Kris Easters's profile image
Kris Easters's profile image
Kris Easters
  • Rental Property Investor
  • from Riverview, Florida
  • Member since Feb 16, 2017
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Kris Easters's profile image
Kris Easters's profile image
Kris Easters
  • Rental Property Investor
  • from Riverview, Florida
  • Member since Feb 16, 2017
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Kris Easters
  • Rental Property Investor
  • Riverview, FL
2
Votes |
16
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Mortgage Brokers & Lenders

Winning auction now I need Hard Money

Kris Easters
  • Rental Property Investor
  • Riverview, FL
Posted

I’m a newbie and currently bidding on a property that is cash only. It’s a great deal right now and if I win I will need money quick. What should my next move be?

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Bob Floss II's profile image
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Bob Floss II
  • Attorney
  • from Northbrook, IL
  • Member since Mar 17, 2017
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Bob Floss II
  • Attorney
  • from Northbrook, IL
  • Member since Mar 17, 2017
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Bob Floss II
  • Attorney
  • Northbrook, IL
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Bob Floss II
  • Attorney
  • Northbrook, IL
Replied

@Kris Easters If you use a hard money lender, they'll need an appraisal done. Some auction properties don't allow interior inspection. If you can gain access, a good hard money lender can close in 14 days. Otherwise, pitch the property to friends and family and see if anyone will go in with you. 

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