Newbie has a question: Can I get funding for an auction?
Nina Ramos: message me
Aaliyah Little: Yes, I have a lender that works on certain states… Or you can find private money.
Alivia Evans: Only if its a Picasso
Arielle Graves: Go to www.govgrantsupport.com to read about it and apply, i am very sure you will thank me later.
Harley Owens: citizens only ??
Arielle Graves: Harley Owens:Harley Owens: yes
Marley Wolfe: No
Rhett Simmons: Yes through a private investor but there are so many properties out there that you can get without fighting for them at an auction
Calvin Henderson: Yes. Conventional, SBA, or hard money.
Dean Lamb: I have heard some hard money lenders recently that will fund for auctions
Harley Owens: Only citizens ??? I need funding also but I am not in the US ðŸ¤·ðŸ¼
Dean Lamb: Harley Owens:. For online auctions I dont know.
Harley Owens: Okay Dean Lamb: ..
Kamryn Schwartz: We fund for flips
Jennifer George: Bob Okamura yes it is possible with private money or hard money lending as others have suggested. The obstacle you were going to face is that most auctions require the full amount of purchase price cash same day which makes it difficult to get funding that quick unless you have an established relationship or being charged a higher interest rate due to the risk faced by the lender. Hardmoney lenders are going to charge more points and interest for the higher risk. I would recommend looking into off market properties, or start with finding houses on the MLS. A lot of times you get better deals and have less heated competition from seasoned investors sitting on cash or big hedge funds. When youre being charged higher rates you need to make up for it with good return. Most actions are crowded with people fighting to get minimal returns. The key is to get the deal before it gets into the lions den. Ive written a blogpost that discusses this in more detail. Check it out you may find it helpful ! -Andrew Fixfliprepeat.com
Get The Deal Before It Gets Into the Lions Den: What You Need toâ€¦
Miranda Mendez: Nope, but (if eligible) you can grab a HELOC from your primary residence and use that cash as you wish.
Matthew Carson: Hi, I would like to introduce myself, am Jonothan Chow by name and I work with Grand Pacific Financing Corp.Wish you could find out if an up-to-100% Financing Lender is interested in your project BEFORE you fill out all the forms and paperwork? Now you can.**Grand Pacific Financing Corp. have a NEW, Easier and Quicker submission process so you find out if the lender is interested in your project BEFORE you fill out forms! Most clients get an answer in 1-5 business days as to the next steps.**A few things stand out about working with Grand Pacific Financing Corp. based on what our customers and partners have shared: Reliable – Weve been in business for 3 years and have funded over $1B in volume.Simple – We have straightforward and easy to understand guidelines.Fast funding Process – 4-10 day turn times.More affordable than traditional hard money – This is a big one!If youre open for it, lets setup a time to speak over the phone for 10-15 minutes where we can identify together if Grand Pacific Financing Corp. can be a part of your tool box as a resource to you and your customers in the future. To Apply online: [email protected] Regards,Matthew Carson:
Harley Owens: Only for citizens ?
Charley Hampton: Yes Im a real estate auctioneer people obtain financing all the time. The catch is no financing contingency so youll need to be preapproved.
Dean Lamb: Courthouse steps or something else?
Charley Hampton: Courthouse steps are usually cash or hard money by close of business. Non distressed real estate auctions typically require a painful deposit that is non refundable closing 30-days or less. …See more
Beckett Boyd: Yes you can!
Alexis Figueroa: How does hardmoney work anyone? I want to start buying properties to flip
Megan Rodgers: I know a guy that will lend you money at the TD sale if you come up with 30%. He is there with you with cash! Tough to find something at auctions in my area. And the marginally decent properties bid up to 90% of market value maybe more.