Looking at my first deal 99k foreclosure Cash or conv loan ?

2 Replies

Hi @Raul Pastrana ,

From what I think I understand, since I'm new to real estate too, it would be very difficult to get a conventional loan on a foreclosure property. If you're buying at the courthouse steps, I believe that you'll have to pay the full amount of your bid before end of business the day of the sale. 

Perhaps a better strategy is to purchase the property with cash, then once you're done rehabbing the property, refinance and pull back out 70-80% of your expenses. You can checkout the BRRRR strategy for more info on that.