First time targeting an auction property... rookie questions
A property with the PERFECT location for a short-term vacation rental is coming to auction. I've done all the research and due diligence - I want to go for the deal. It's a live auction happening next month. I'm looking for any and all advice I can get to BRRRR with short term Airbnb type rentals.
I also have one specific question:
-Property must be paid cash. I have enough for about 60% of the MAX amount that I’d be willing to bid for. So need to show up at the auction with enough certified checks for whatever I am willing to bid. Right?
If I don’t have the liquidity now. Any ideas on how to finance the rest?
For example, I could issue a second mortgage or HELOC on another property. Could I then issue certified checks from that?