Posted by chris on February 26, 2004 at 13:17:47:
Thanks ed,This would be my first deal,just to let you know.I might take a drive up to look at it.The auction starts in a few days and i would really like to see the area and the condition of the house.IT says their are no irs liens and of course the money for the sale will cover the tax lien.I have to check into the title for other liens.I’m sure their are some pro rehabbers waiting in the wings for it.
hard money for tax auction in So Ca. - Posted by chris
Posted by chris on February 26, 2004 at 02:52:49:
There is an auction for some houses in Fresno that i’m looking into.The one house is starting at around 18000 and the houses in the area are supposedly worth around 100000It says the house needs some work.I probably wouldn’t bid over 35-40.If i do put down the deposit to bid,the only problem would be i would have to wire the money or cashiers check within 4 days.This is not a mobile home.Is it possible to get hard money for this type of situation.My credit score is 716
Re: hard money for tax auction in So Ca. - Posted by Ed Garcia
Posted by Ed Garcia on February 26, 2004 at 11:19:31:
Chris,
This sounds good and I can help you. The reason I say that ?this sounds good? is because usually when I see a post like yours, the investor hasn?t even seen the property and doesn?t know if the property needs repairs, if so how much it will cost, is the property in violation, or have any significant information on the property other then a minimum bid and it looks like they?re going to make a ton of money.
When the deal gets down to the nitty gritty, they get out bid by a real-estate agent who brings a retail buyer who pays close to retail.
I know I sound negative, but it makes no difference. I can get you the money.
If you like, you can call me at (909) 944-099 and we can discuss this deal and your thoughts on any future deals for investing.
Ed Garcia