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Account Closed
  • Specialist
  • Hendersonville, NC
23
Votes |
159
Posts

Using private money or hard money at auctions

Account Closed
  • Specialist
  • Hendersonville, NC
Posted

Hi Community,

If I wanted to buy a tax deed property, could I get hard or private money for that?

The way the county does it is I have to pay 10% cash up front, then I have 3 days to pay the rest of the money.

1. Is 3 days enough time to get a hard money or private money loan?

2. What’s the best place to find a lender for this type of purchase?

3. If the lender spotted me 50k, and I did all the rehab work, does a 50% profit split seem reasonable?

Thank you...

Ben

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