Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

5
Posts
0
Votes
Chris Garrett
  • Cave Springs, AR
0
Votes |
5
Posts

Tax Foreclosure Financing - Arkansas

Chris Garrett
  • Cave Springs, AR
Posted
I'm looking to buy a house from an upcoming tax foreclosure auction in my county (in Arkansas). The property is in a great neighborhood, but it will definitely need some repairs. I have access to a little cash, but I doubt it will be enough to win the bid on this property. What is the best form of financing that I could arrange in order to get this property at the auction? Would it be possible to find a bank that would give an open line of credit up to a certain point?

Most Popular Reply

User Stats

267
Posts
159
Votes
Dustin Davis
  • Goshen, AR
159
Votes |
267
Posts
Dustin Davis
  • Goshen, AR
Replied

Anything is possible... financing in its traditional form wouldn't work here but if you can get a personal line of credit or hard money loan or home equity line of credit those would all work and banks/people do it every day. I would say in my opinion if you're having issues pulling money together for the tax sale buying a tax property might not be a good idea...where will the money come from to rehab it? There are a lot of possible hidden costs and no guarantees on those types of properties and it could take months or even years to gain possession of the property. I'd recommend talking to an expert or a real estate/ tax attorney to get educated on the process and risks involved before putting up money.

Loading replies...