Funding for auctions

[Candice Gallego]

Hello, I am a rookie investor. I am looking at foreclosures on Auction.com and need funding. Any help would be greatly appreciated.

[Bob Reinhard]

Greetings:

Likely hard money is the answer -- it has a faster turnaround and is asset based.  But, you must have the money required by the site within X hours of the winning bid. This means you need to line up a source of funding today for the auction at the middle of next week ... you get the point -- no last minute looking for funds after a winning bid.

The issue becomes how long you want to borrow the $$ for. Fix and flip? buy and hold? How will you and when will you pay off the hard $.

Much success.

Bob