Updated over 8 years ago on . Most recent reply
Hard money to buy and flip tax sales?
First time newbie, but i'm looking into the Cobb County Tax Commissioner website (cobb county Georgia https://cobbtax.org/taxsalelist ) for tax property auctions. Most are only around 4k (even though zillow has the properties for around 180k), could I perhaps use a hard money lender to buy and rehab the property, then put it on the market for a great price? Does this sound possible? good idea?
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- Tax Strategist| National Tax Educator| Accepting New Clients
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That's the starting bid.
You'll likely need cash the day of at the auction.
Hard money lenders work off of numbers, and with an auction it's tricky because you can't access the house until you win in....so you can'y do a super accurate ARV because you can't walk through the property.
Also Zillow isn't a valid source for ARV on houses.
Spend some time on Bigger pockets reading and listening to podcasts and you'll be on the right track.
