How Auctions Work Generally

[Jacob Lamar]

Hey I am new to the property auctions sector. My main question is how can I get around buying with all cash? But some general tips or what to expect would be appreciated.

[Jeff Cichocki]

@Jacob Lamar, unfortunately, most counties have switched to all cash because of being burnt so many times by investors who want to finance the properties but can't actually close for one reason or another. Here in Wisconsin, most counties require 10% down in cash or cashiers check right after you win the auction. You then have a short period of time to finish the closing. You can bring in funds from any source at that point.

But, we're one of the more flexible states yet. Wisconsin isn't exactly the hot bed of american investing. The counties haven't been burnt as much here.

Good luck!