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Updated over 8 years ago, 05/12/2016
Need to move quickly!!
Hello all!!
I am a newbie investor....I'm actually in a learning process right now while keeping an eye on the market in my area for deals. I have what I've found to be a good deal, and would LOVE some advice on how to proceed. I'm located in SF Bay Area, and have found a major fixer for a multifamily (the pictures reveal a need for new kitchens, for whoever was there, took everything that makes a kitchen a kitchen) The price for this property is a little less than $100000 which is unheard of here. It would actually go for twice what the price is. Now, I have no financing....yet, and haven't even seen the property......yet (contacted an agent). This property is being sold on an online auction in about two weeks, and has only been on the MLS for two days, so it is still new. Now, my question is: what exactly should/can I do? Would a hard money lender fit this scenario? It seems to be such an awesome deal....I'm aware there are risks concerning the condition of the property and purchasing at an online auction.