Updated over 9 years ago on . Most recent reply
Probate
Hello BP,
I currently live in California. I recently came across a property that is a probate auction. I'm new to investing and wondering if any knows of any reasons why this is not a good idea to invest my time in. The property is starting at 249,000 but according to comps could sell for 6-700,000. It is in bad condition but has potential to be nice. Would be too optimistic to get an all cash lender to invest even with the return potential being so high?Does anyone know the best way to acquire this property?
Most Popular Reply
It seems unlikely you will get a lender to front all the money to go to an auction to try to purchase a property. I cannot say with certainty as I do not deal much with hard money lenders but that is my best estimate.