Possibly even forclosures or auction properties that I can turn into rentals.

I found one I am interested in with these numbers:ARV: $550,000Loans: $350,000 1st$150,000 2ndIf this property goes to auction, does not sell, and becomes an REO, the lender on the 2nd will get nothing, correct?  

I purchased these 2 properties at auction, so I had to use HML since it's considered same as cash and closing is under 30 days.It still works for me because I am coming to the table with less cash upfront than if I were purchasing with a conventional lender putting 20-25% down and paying for all of rehab out of pocket.

After that I look for a pocket deal (preferred), HUD auction, or other deal at 10-20% below market price.

The broker experienced in flipping told my not to pay more than $50K at the auction.  

@Shelly Scruggs There are several ways to turn a Wholesale listing:CraigslistBP PostsREI Groups or BoardsBandit SignsThrough other WholesalersNetworkingRealtorsor even attend auctions (tax and foreclosure) and see who it buying up houses, approach them, find out the types of properties they are interested, get their card, email them a report when you are ready to sell.These are just a few ways to wholesale and build your list.  

Talk to an agent, as the property Will be in the MLS, or on an auction site.  

This property is not going no to auction, but the county is asking $100,000 for the property.

- Budget Appropriately- Listen carefully to the auctioneer- Check the property

Hello all,I'm looking to buy some land at a tax deed auction in Northern California. 1.