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Updated about 8 years ago on . Most recent reply

User Stats

262
Posts
109
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Jonathan Johnson
  • Rental Property Investor
  • Charleston, WV
109
Votes |
262
Posts

Lending help for buying at Auction

Jonathan Johnson
  • Rental Property Investor
  • Charleston, WV
Posted

Hello all,

I'm interested in buying from a county courthouse auction and I'm trying to plan ahead with financing. 

Is using private money a good strategy for acquiring a property at auction?

Are there Hard money options or strategies to consider? 

I'm probably looking at a small rehab project.

I have a 125k house that zillow says is 150k so maybe I could a HELOC for a small amount.

Any help or thoughts are greatly appreciated!

Most Popular Reply

User Stats

283
Posts
71
Votes
Alex Bok
  • Real Estate Agent
  • Chicago, IL
71
Votes |
283
Posts
Alex Bok
  • Real Estate Agent
  • Chicago, IL
Replied

@Jonathan Johnson not sure how it works in your state but in Illinois you are required to bring a certified check to put down at least 25% of the property up front so hard money and other financing here typically is not preferred

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